Former Dealer Hecker Faces 2 New Fraud Charges
Denny Hecker, the former Minnesota auto dealer mogul, faces two new charges in his pending federal criminal fraud case, the Pioneer Press in St. Paul, Minn., reported.
A federal grand jury in Minneapolis handed down the superseding indictment today charging Hecker with new counts of bankruptcy and wire fraud. A money-laundering charge was dropped. Hecker, 58, also faces 11 previous charges of bankruptcy fraud.
All told, he now faces 26 charges.
According to the Pioneer Press, prosecutors also filed a new wire-fraud charge against Steven Leach, 55, former president of Hecker's leasing company. Leach now faces 14 charges of wire fraud.
Attorneys for Hecker and Leach declined to comment to the newspaper.
Hecker's empire -- which once encompassed 15 dealerships and 200 businesses -- collapsed last year. He filed for Chapter 7 personal bankruptcy protection owing $767 million to creditors. Hecker alleged Chrysler Financial cut off his financing and demanded payment of $550 million in debt.
More Industry

The Powertrain Shift
Electric-vehicle owners are backpedaling, according to new data, with product availability driving many to shift back to gas-powered engines.
Read More →
Achromatic Autos
The shades that dominate the U.S. car market don’t call attention to themselves, though grayscale may have plateaued after a 30-year upswing, research shows.
Read More →
Used-Vehicle Affordability Worsens
Listing prices in August defied seasonal trends, rising above $27,000 for the second time this year.
Read More →
First-Half Dealership Deals Up
Buy-sell activity shows that acquirers are looking for value and scale as many retailers seek to leave an increasingly competitive and complex market, Kerrigan Advisors reports.
Read More →
Kia Closes Out Summer With a Bang
Its U.S. subsidiary broke multiple records in August, in part due to a surge of demand for hybrids models.
Read More →
Indiana Dealership Changes Hands
A 30-year-old Ford dealership in Indiana has a new owner and will soon be undergoing renovations to meet manufacturer requirements.
Read More →
Texas Dealership No Longer in the Family
The Ford store, a longtime cornerstone of the Houston market, is now part of one of the fastest-growing U.S. auto groups.
Read More →
Genesis Grows California Presence
The Cardinale Automotive Group opened its third Genesis rooftop in the Golden State, Genesis of San Bruno, a stand-alone dealership serving the San Francisco Bay Area.
Read More →
August Auto Sales a Mixed Bag
An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.
Read More →
EV Market Humming Along
July sales show steady growth as the segment stabilizes from last year’s artificial surge following pullback of federal support.
Read More →