Gary D. Sugamosto, 67, the man suspected of swindling several individuals out of cash he suggested would pay for ‘flipping’ used vehicles, was arrested by Las Cruces PoliceThursday morning.
Sugamosto is charged with five felony counts of fraud including two counts of fraud over $2,500, one count of fraud over $20,000, one count of fraud over $500 and one count of fraud by worthless check.
Sugamosto was arrested Thursday morning and booked into the Dona Ana County Detention Center with a cash-only bond set at $50,000.
Detectives learned that in 2015 Sugamosto approached several individuals in Las Cruces and suggested he worked for a local car dealership and could purchase used vehicles at drastically discounted prices, and then ‘flip’ the vehicles in order to make a profit. Sugamosto entered into contracts with at least four individuals who believed the suspect would use cash they gave him to purchase vehicles. Each of the victims believed Sugamosto would share with them the proceeds from the sales of the vehicles.
The individuals became suspicious when Sugamosto failed to repay them or, in at least one case, provide two Jeeps as promised. Detectives learned that Sugamosto told victims that he represented Base Auto Sales but the owner of the dealership vehemently denied that assertion.
Investigators learned that Sugamosto swindled nearly $60,000 from four victims. He also gave one victim a $26,000 check which was later learned to be drawn on a closed bank account.
Detectives have reason to believe there are additional victims to this scam. Anyone who may have fallen victim to such a scam is asked to call police at (575) 526-0795 or send an email to lcpdtips@las-cruces.org.
Information from Las Cruces Police