Ex NJ auto dealer gets prison term for theft

July 14, 2012 11:38:47 AM PDT
The former owner of a southern New Jersey car dealership who failed to turn over more than $11 million in proceeds from the sale of hundreds of cars has been sentenced to three years in state prison.

Rudolph Chiorazzo, who ran the now-bankrupt South Shore Auto World in Upper Township, pleaded guilty last month to theft by deception.

The 68-year-old Upper Township man admitted that, in order to continue to receive financing from Ford Motor Credit Co., he falsified information about the value of the vehicles in his inventory in monthly financial statements.

Prosecutors say the theft occurred between February 2005 and July 2006.

Chiorazzo will be eligible for parole in nine months. And once he's served roughly four months, he can apply for the state's Intensive Supervisory Program