Former GM of Jasper car dealership indicted in $900,000 theft

The former president of a Jasper car dealership has been indicted for stealing more than $900,000 from the business.

Robert Edwin Maloy, 59, was indicted by a federal grand jury Wednesday on one count of conspiracy, eleven counts of wire fraud, and three counts of mail fraud, according to a joint statement Thursday from U.S. Attorney Joyce White Vance, FBI Special Agent in Charge Roger C. Stanton and Internal Revenue Service Special Agent in Charge Veronica Hyman-Pillot.

Maloy was the general manager and president of the Maloy Ford and Maloy Chrysler dealerships from 2010 until December 2013, according to the statement. Maloy held a minority ownership interest in Maloy Ford and Maloy Chrysler and prior to holding those positions, he operated a used-car dealership known as Maloy Automotive.

According to the indictment Maloy agreed with an individual employed by Premium Dealer Products, a broker that sold vehicle service products, to inflate the cost of various items. The inflated cost, referred to as an "over remittance," was included in the amount charged to the customer, then paid to the vehicle service provider via the monthly Maloy Ford or Maloy Chrysler dealership checks.

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