Dealer Jeff Lash, who was indicted earlier this year on federal fraud charges, sold a New York Subaru dealership in August to West Herr Automotive Group.
The acquisition of Spurr Subaru in Brockport, N.Y., from Jeff Lash and Danielle Lash gave West Herr its second Subaru dealership.
Jeff Lash is the same Lash who is a former managing partner at GPB Capital Holdings and who was indicted in February on federal securities fraud charges, along with former GPB CEO David Gentile and Jeffry Schneider, owner and CEO of Ascendant Capital, sources confirmed to Automotive News.
Lash, who lives in Naples, Fla., according to federal prosecutors, oversaw investments into dealerships from 2013 through early 2018 for GPB, an alternative asset management firm that until last month was majority owner of Prime Automotive Group. Lash, who owned and operated several dealerships before joining GPB, was alleged to have defrauded GPB investors and was indicted on charges of conspiracy to commit securities fraud, conspiracy to commit wire fraud, securities fraud and wire fraud.
Lash has pleaded not guilty to all charges.
Separately, the U.S. Securities and Exchange Commission in a February civil complaint charged GPB and individuals including Lash of operating a Ponzi-like scheme.
Lash’s lawyer did not respond to multiple requests for comment, and Lash couldn’t be reached for comment.
