January 31, 2023

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West Herr buys Subaru store from Jeff Lash

Seller Jeff Lash, who was indicted this calendar year on federal fraud charges, bought a New York Subaru dealership in August to West Herr Automotive Team.

The acquisition of Spurr Subaru in BrockportĀ from Jeff Lash and Danielle Lash gave West Herr its next Subaru dealership.

Jeff Lash is the exact Lash who is a former taking care of companion at GPB Funds Holdings and who was indicted in February on federal securities fraud charges, alongside with former GPB CEO David Gentile and Jeffry Schneider, owner and CEO of Ascendant Funds, sources verified to Automotive News.

Lash, who life in Naples, Fla., according to federal prosecutors, oversaw investments into dealerships from 2013 by way of early 2018 for GPB, an option asset administration agency that till last thirty day period was greater part owner of Prime Automotive Team. Lash, who owned and operated a number of dealerships just before signing up for GPB, was alleged to have defrauded GPB investors and was indicted on charges of conspiracy to dedicate securities fraud, conspiracy to dedicate wire fraud, securities fraud and wire fraud.

Lash has pleaded not responsible to all charges.

Separately, the U.S. Securities and Exchange Commission in a February civil criticism charged GPB and folks which include Lash of functioning a Ponzi-like plan.

Lash’s lawyer did not answer to numerous requests for remark, and Lash could not be achieved for remark.