September 29, 2023

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West Herr buys Subaru store from Jeff Lash

Seller Jeff Lash, who was indicted earlier this calendar year on federal fraud expenses, bought 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 exact same Lash who is a previous taking care of spouse at GPB Money Holdings and who was indicted in February on federal securities fraud expenses, along with previous GPB CEO David Gentile and Jeffry Schneider, owner and CEO of Ascendant Money, sources verified to Automotive News.

Lash, who lives in Naples, Fla., according to federal prosecutors, oversaw investments into dealerships from 2013 as a result of early 2018 for GPB, an alternate asset management organization that until eventually last month was the greater part owner of Key Automotive Group. Lash, who owned and operated several dealerships just before becoming a member of GPB, was alleged to have defrauded GPB traders and was indicted on expenses of conspiracy to commit securities fraud, conspiracy to commit wire fraud, securities fraud and wire fraud.

Lash has pleaded not guilty to all expenses.

Individually, the U.S. Securities and Trade Fee in a February civil criticism billed GPB and people which includes Lash of operating a Ponzi-like scheme.

Lash’s law firm did not react to several requests for remark, and Lash couldn’t be achieved for remark.