UPDATED: Owner Jailed in Cartersville Car Dealer Scam

Updated 

Authorities say Terry Spruell, a car dealer from Kennesaw who faces a number of charges in Bartow, turned himself in at Cartersville Police Department headquarters about 2:30 today. 

He was questioned by investigators and taken to the Bartow County jail to be house. Spruell now faces 12 theft by deception charges.

Original Report

Cartersville Police Department Chief Thomas Culpepper says investigators are working several cases in regards to North Georgia Financing, a used car dealership formerly located in Cartersville, according to a press release.  

Several victims have come forward who purchased cars at the dealership but have not been able to obtain the titles to their cars. The victims have either had their cars repossessed by the title holders or are unable to register the car and obtain tags for the vehicles.

There are also victims who have either invested money in the dealership or who have placed cars on consignment at the dealership. These victims still hold the titles to cars which have been sold but for which they have not received payment from the dealership.

Investors would loan money to the dealer to purchase vehicles for sale. When the dealer bought a vehicle, usually at auto auctions, the investor would be given the title to hold until the car was sold and money paid back to the investor at which time the title was to be released.  However, the dealership sold the vehicles but never paid back the investors who will not release the title until they are paid.  The same is true if someone gave the dealership a vehicle to sell on consignment. The car was sold but the individual who actually owned the car was never paid after the sale and therefore will not release the title to the new owner.

Victims who purchased vehicles from the dealership are paying back loans for cars that they cannot register. One victim paid the loan off completely but is still unable to obtain the title. So far, eight victims have come forward either as a buyer or as an investor.

Several theft by deception warrants have been issued for Terry Michael Spruell, 64, of Kennesaw, the owner of the dealership. Spruell has not been arrested.  

Victims are continuing to come forward and additional charges may be taken against Spruell, according to the release.

Investigators are asking anyone else who may be a victim of North Georgia Financing to come forward. The investigation is ongoing.

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