Illinois dealers alerted to possible scam - Trade Only Today

Illinois dealers alerted to possible scam

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Boat dealers in Peoria, Ill., should be aware of a scam targeting boat dealers and others involved in the sale of recreational motorsports equipment.

During the last several months The Auction House, of Murfreesboro, Tenn., has contacted businesses in Tazewell and Peoria counties, saying it could obtain top-dollar prices at auction for end-of-year merchandise on the local businesses' showroom floors, KFVS-TV reported.

Once the businesses agreed to have their merchandise sold at auction, The Auction House would make arrangements for the transportation of the equipment to Murfreesboro.

The Auction House failed to forward any proceeds of the auction back to the businesses, according to the TV station.

Three businesses in the Peoria area have fallen victim to the scam, with more than $200,000 worth of lost inventory.

Click here for the full report.

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