Richard Caragao Rich Car- Richel Caragao rent to own big scam newport beach California
Please be aware of this scam going around in OC and LA area by this individual Reichl Caragao AKA Rich Caragao. This is how he operates his big scam: He has focused on people wanting to get out of their lease or purchase contract to take over their luxury or exotic vehicle payments. He will make a few payments to the owner and then he will stop making payments and end up keeping the cars.
He will then rent or sell your vehicle as rent to own charging large amounts for down payment and monthly payment and keeping all the money. He typically advertises in craigslist making it very appealing to the public stating no credit no problem, approval guaranteed. He also advertises on Instagram and Facebook using the name Traction Motorsports, CarsNchronos1 and takeoverpayment1 where again, he makes it so appealing to victims no credit no problem.
He will sell you the car as a rent to own and ask for a large down payment and allow you to make a few payments before he takes the car away from you for no reason and then start all over again with another victim and so on. He will present you with a fake contract already signed by the car owner stating that the owner can no longer afford the payment and wants to sell the car.
He will also not allow you to verify with the car owner and will tell you that he represents the owner which is a lie. The OC District Attorney is currently investigating this case to put a stop to this con artist on defrauding more victims and alerting the public of such scam. You can read more about this scam run by him on rip-off report and pissedconsumer.com under Reichl Caragao.
There you will find many victims defrauded by him in many ways. You will also find a lot of cases in Orange County Court regarding this scam by Reichl Caragao. If you have been a victim of this individual, whether you gave your car to him or purchased a rent to own vehicle, please contact Aliso Viejo theft Police Department to get more information and to be part of a current lawsuit against this individual and his crooked attorney.