Ex-Spartanburg Auto Auction owner pleads guilty to wire fraud - FOX Carolina 21

Ex-Spartanburg Auto Auction owner pleads guilty to wire fraud

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Michael Wolfenbarger listens to proceedings at his bond hearing in Spartanburg in February, 2013. (File: FOX Carolina) Michael Wolfenbarger listens to proceedings at his bond hearing in Spartanburg in February, 2013. (File: FOX Carolina)
SPARTANBURG, SC (FOX Carolina) -

The former owner of Spartanburg Auto Auction pleaded guilty on Tuesday in federal court to wire fraud, U.S. Attorney Bill Nettles said in a release.

Nettles said Michael Wolfenbarger, 42, bilked more than $1 million while he acted as a middleman between various automotive dealerships and private individuals.

Wolfenbarger would write checks drawn on bank accounts with insufficient funds and deposit these checks into other accounts, the solicitor's office said. 

The accounts would show inflated balances that allowed the insufficient fund checks to be honored.

Wolfenbarger would then take advantage of the inflated balance and write checks for goods and services, the solicitor's office said.

He is scheduled to be sentenced at a later date.

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