A Boerne luxury auto dealer and his son are behind bars, charged with what investigators say is an elaborate scheme to bilk customers.
Richard Hovey Sr. and son Richard Hovey Jr. remained Friday in the Kendall County Detention Center on charges of theft over $300,000 and misapplication of financial property between $30,000-$150,000.
Bond for each was set at $350,000 after review by the 451st state District Court.
The pair operate Hovey Motorcars, a dealership established in 1998 best known for high-tier automobiles and luxury vehicles. The business relocated to Boerne in 2018.
The nearly yearlong investigation involved multiple victims and numerous reports filed over the course of several months, according to Boerne police.
During the investigation, detectives said they uncovered an elaborate system in which a pair of auto dealers are suspected of illegally acquiring victims’ money — the value of which was tied to the vehicles — without the vehicle owner’s permission and intending to keep it for themselves.
Police also allege funds totaling $300,000 were taken as part of an illicit plan.
Investigators also said the pair misused property — including vehicles, vehicle titles and U.S. currency — worth $30,000 to $150,000 "while acting in a position of trust, either as someone responsible for managing the property or as someone expected to handle it properly," a city of Boerne release stated Thursday.
The theft charge is a first-degree felony and misapplication of fiduciary property or property of a financial institution is a third-degree felony.
According to the city release, “The Boerne Police Department would like to acknowledge the collaborative efforts of detectives and community members whose contributions were critical in moving this case forward. The department continues to prioritize justice and accountability in protecting the citizens of Boerne and Kendall County.”
Officials said additional information could be released as it becomes available.
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