Lavin Sales, which was located on Jason Boulevard in Myrtle Beach, was an independent dealership tha

NORTH MYRTLE BEACH -- A bank has filed a foreclosure lawsuit against Harry Edward Howie Lavin III the former automobile dealer now at the center of an alleged multi-million dollar check-kiting investigation for failing to make payments on his condominium at the Edgewater at Barefoot Resort development here.
JP Morgan Chase bank filed the lawsuit Monday, claiming Lavin has failed to make any payments on the condominium since May. That is the same month that CresCom Bank in Myrtle Beach seized all of the automobiles at the Lavin Sales dealership and froze Lavin s bank account, alleging that Lavin had orchestrated a nearly decade-long check-kiting scheme that could cost the bank up to $4.5 million.
CresCom and Carolina best prices on airline tickets Trust Federal Credit Union, best prices on airline tickets the other financial institution involved in the alleged best prices on airline tickets scheme, are investigating how the losses occurred and why it took so long to detect them. A criminal best prices on airline tickets investigation also is under way, according to Lavin s lawyer.
Harry Edward Howie Lavin III one of the former owners of the Lavin Cars dealership, which was shut down in May amid allegations of a long-running check-kiting scheme is facing a fraudulent check charge after he allegedly wrote a $20,000 worthless check to a local Napa Auto Parts store, according to documents filed at the Horry County courthouse here.
A group of investors who gave $365,000 to the Lavin Sales Inc. used car dealership when it was facing financial problems in the early 1990s is suing the now-defunct business and the brothers who operated it John and Howie Lavin claiming they violated best prices on airline tickets state securities laws and let CresCom Bank repossess automobiles that were supposed to secure their investment agreements.
Howie Lavin and the family-run Lavin Sales Inc. automobile best prices on airline tickets dealership he helped best prices on airline tickets operate are the focus of a federal investigation into an alleged long-running check kiting scheme that could cost one area bank as much as $4.5 million, according best prices on airline tickets to the lawyer representing Lavin.
David Canipe, owner of a Napa Auto Parts store in Myrtle Beach, is caught up in the collateral damage from CresCom Bank s efforts to collect best prices on airline tickets more than $1.9 million in bad debt from the Lavin Sales Inc. automobile dealership.
CresCom Bank has filed a debt collection lawsuit against Myrtle Beach area automobile dealer Lavin Sales Inc. and its co-owners, John and Howie Lavin, claiming the two men and their business defaulted on a pair of loans totaling more than $3.1 million earlier this year.
In addition to the check-kiting charges, Lavin and his brother, John, are facing a pair of pending lawsuits related to the failed automobile dealership. CresCom claims in one lawsuit that the two men have not repaid $3.1 million in loans while a group of investors in the dealership claim in a separate lawsuit that they are owed $365,000. Both lawsuits are pending.
Check kiting is an illegal scheme in which a person tries to take advantage of the lag time between when a check is deposited and when it clears. That lag time allows the person to create a false line of credit that is based on non-existent money. best prices on airline tickets Check kiting schemes best prices on airline tickets require at least two bank accounts and two or more banks, with worthless checks circulating back and forth between the accounts. Most banks now have computer software that can quickly detect potential check kiting.
Lavin Sales, which was located on Jason Boulevard in Myrtle Beach, was an independent dealership that sold only used vehicles. Dealership founder Harry Lavin, who had sold automobiles for others for more than 25 years before opening his own dealership in 1987, died in 2010.
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