Rent-to-own News - Florida rent-to-own scheme foiled
August 8, 2008
Escambia County Sheriff’s Department officials this week cracked a major rent-to-own ripoff scam involving close to $25,000 worth of rented merchandise that was then hauled to pawn shops, according to the Pensacola News Journal.
The items, mostly large screen televisions, were rented at several local rent-to-own stores and later pawned over several months for $4,685, according to the article.
“Once I started digging, this thing just mushroomed,” investigator Terry Hardy told the Journal. “I found where this had started last year. Basically, the ring...was going to various rental places and renting property and pawning it.”
At least 13 TVs, ranging in size from 32 to 46 inches, and other items, including a computer, a home theater and Playstation 3 were rented. Twelve of the TVs were pawned, police reports show.
Two of suspects have been arrested, and deputies are looking for five others.
Hardy said he began investigating the case after one of the rent-to-own businesses filed a complaint about one of the suspects not paying for rented items.
The company had been unable to get the merchandise returned, he said. The items were later found at a pawn shop and some already had been sold, Hardy said.
In Florida, pawn shops are required to hold property for 60 days before putting it up for sale, he said. This requirement varies from state to state however.
mevans@rtohq.org
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The Association of Progressive Rental Organizations is the official voice of the rent-to-own industry and the most accurate and trustworthy source of rent-to-own news in the industry. Founded in 1980, APRO is the national, nonprofit trade association advocating and representing the rent-to-own industry before the U.S. Congress, state legislatures, courts, media and the public.
For more information, visit www.rtohq.org.
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