Tacoma, Seattle residents defrauded in investment scheme. Police seek other victims

News Tribune (Tacoma, WA)

Nov. 16—Seattle police are investigating whether a man suspected of operating fraudulent equipment-rental companies in Pierce County has victimized other people near Seattle and Tacoma.

Seattle Police Department said in a Tuesday news release the suspect asked people to invest in equipment such as dump trucks or other heavy machinery and pledged to split the profits of renting out the equipment. Instead, police say, the man gained access to victims' bank accounts and withheld all rental profits.

Detectives are releasing details about the fraud cause in the hopes additional victims will come forward to receive police assistance, according to the release.

Police said the suspect operated several businesses in Tacoma, Parkland and Spanaway. The names of those businesses include Truck Rentals Co., Bobcat Rentals Co., Anytime Rentals Co., Seattle Equipment, Bobcat Plumbing, Bubba Rents, Bubba Gump Group, Divisions Maintenance Group, Royal Cove Capital, Boyd Tree Service, Equipment Rental Co., and Snow Removal Co.

Police said the suspect found some victims by advertising on sites like BizBuySell.com, a "business for sale" marketplace, according to its website. After the suspect connected with a victim, police said he offered to manage the initial purchase of the machinery and its subsequent rentals. He also placed himself on the titles of purchased equipment, making him its only legal owner.

Anyone who believes they were defrauded by this suspect in a similar scheme was asked to contact Detective Monique Avery by email at [email protected].

This story was originally published November 16, 2022 9:29 AM.