Be careful who you do biz with... Peter Brotman | FerrariChat

Be careful who you do biz with... Peter Brotman

Discussion in 'Ferrari Discussion (not model specific)' started by LetsJet, Apr 24, 2007.

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  1. LetsJet

    LetsJet F1 Veteran Owner

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    http://news.yahoo.com/s/ap/20070424/ap_en_ce/people_nicolas_cage

    Man sentenced in Nicolas Cage swindle

    By MARYCLAIRE DALE, Associated Press Writer Tue Apr 24, 7:03 PM ET

    PHILADELPHIA - A classic-car broker who swindled actor Nicolas Cage and other clients before he was caught in Spain was sentenced Tuesday to five years in prison and $1.8 million in restitution.

    Peter Brotman, 47, of Oaks, sold collectables such as a 1964 Rolls-Royce, a 1988 Aston Martin and a 1954 Jaguar on consignment, then kept the money or used it to pay off earlier debts.

    Cage, identified in the 14-count indictment as "N.C.," lost $300,000 in April 2004 when Brotman didn't send him the full proceeds from the sale of three Ferraris and a Cobra.

    "The guy was extremely knowledgeable in the classic-car industry," Assistant U.S. Attorney Floyd J. Miller said after the sentencing hearing. "It's a very insular community of mostly wealthy people. They have these auctions at Pebble Beach, Monte Carlo, other places where the rich and famous meet."

    Brotman also defrauded Willow Grove Bank out of $950,000 they lent him to run his suburban Philadelphia business, Pennsylvania Motor Sports, prosecutors said.

    He apologized in court Tuesday to his victims, saying he had made poor decisions, defense lawyer Noah Gorson said.

    Gorson argued in court papers that Brotman went to Europe to pursue work so he could repay them. At one point, he pledged the proceeds of a $450 million art deal he hoped to broker, but questions arose about the authenticity of the 93 pieces.

    Gorson, in the filings, blamed the financial scam on his client's "cash-flow problems."

    Brotman, who has been detained, pleaded guilty in January to 14 mail-, wire- and bank-fraud counts.
     
  2. No Doubt

    No Doubt Seven Time F1 World Champ

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    Psychologists should turn Brotman into a case study because he epitomizes how a human will turn off the thinking part of their brain, replaced instead with rationalizations such as "I won't get caught" and "these guys are so rich that they'll never notice that the money is gone" as well as "I'll just pull a bigger scam to pay back the guys that I like, but scammed earlier."

    Hey d*uchebag, they'll notice. You'll get caught. You won't always be able to pull off a bigger scam in order to pay back your earlier victims.

    Consequences?! Brotman is 47 years old; his knowledge base is classic cars. Now, no one will ever trust him...not that it will be an issue for the five years or so that he winds up behind bars.

    He's gone from doing handshake deals with Cage to years behind bars. Does he get to keep any of the money? Nope.

    So he's tossed away everything that he's earned and everything that he's learned and lost everyone who trusted him in exchange for years in jail.

    Dumb.

    So here's a tip to any other scammer out there: once you start telling yourself that you "won't get caught" or that "no one will notice," you should stop...you should slap yourself...because you've just told yourself one of the clues that your mind is no longer thinking...it's rationalizing.

    Which is to say, you are no longer smart and you are at high risk of losing everything.
     
  3. SrfCity

    SrfCity F1 World Champ

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    Classic con man stuff. Sounds like someone else we know that's been talked about extensively in the So. CA. section. ;)
     
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  4. blainewest

    blainewest Formula Junior

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    This is a scam I hear about all the time. If there's one lesson here it is that you should never consign a car unless you are dead certain about the dealership in question. For my money it'd have to have been around for about 30 years with the owner having some serious roots (ie; exigible assets) in the community before I'd even consider it. Even then I don't think I would. It would also be a good idea to demand proof that they are bonded in amounts sufficient to cover yours and other consigned cars on the lot.
     
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  5. No Doubt

    No Doubt Seven Time F1 World Champ

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    It's true that you do hear about this scam a lot, but the funny part is that you don't hear about it working (for long).

    These bozos go to jail on a regular basis.
     
  6. blainewest

    blainewest Formula Junior

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    That won't help you, or Nick Cage for that matter, get the money or the car back.
     
  7. Rifledriver

    Rifledriver Three Time F1 World Champ

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    Not exactly true. Having been around this business a few years it amazes me how many have been Atilla the Hun, lay low a couple of years and are welcomed back. Some of the big names too. I see names here all the time that those in the business consider shysters of the highest order and are well spoken of buy the current buyers. History repeats itself over and over and over and.......................
     
  8. 1FAFP90

    1FAFP90 Karting

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  9. dm_n_stuff

    dm_n_stuff Four Time F1 World Champ Lifetime Rossa Owner

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    My brother in law (well, ex actually) was intimately involved with the guy. He's one of the investors who got spanked in the deal, and will see NADA back ever.

    Guy's a very sharp investor, very careful, and he got sucked in by Brotman. It cost him $600K+-.

    I watched this from afar. I wondered how the guy could have so many great cars to broker, and he had a hell of a nice list.

    Turns out to be a shell game. And lots of folks got burned. Apparently some cars were sold 2 or 3 times, in a short period of time, and obviously never delivered to any buyers.

    What a mess. I'm not shocked to see him get some jail time. I'm sure the victims, none of whom will get their $$ back, pushed for it.

    DM
     
  10. PA Car Collector

    PA Car Collector Rookie

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    How right you are! Peter Brotman is apparently out of jail early and working for Tom Papadopoulos at Autosport Design in Long Island, NY. Tom has a bad reputation, so I guess birds of a feather flock together.....I pity new buyers who fall into their hands!
     
    Last edited: Aug 1, 2010
  11. db6

    db6 Formula Junior

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    +1. It is quite amazing. Although some of them (one in particular) was right before the "pre-Internet" era, so there isn't much out there. It's kind of a bizarre world, with an incredible amount of "forgiveness" and seemingly very short memories.
     
  12. financialfxr

    financialfxr Rookie

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    Mr. Brotman took possession of my 68 medium blue/blue 365gt and 73
    Black/beige 3!?!?65gtc as consignment cars in 2004, immediately collecting
    after that.
     
  13. financialfxr

    financialfxr Rookie

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    Brotman wholesaled the above cars, blew the cash and
    I got nothing.I almost quit the hobby after this not to
    Mention my wife thinks I am extremely dumb.
     
  14. Jedi

    Jedi Moderator Moderator Lifetime Rossa Owner

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    Interesting.................
     
  15. Etcetera

    Etcetera Two Time F1 World Champ Silver Subscribed

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    No lights over Gotham City at night, no problem.
     
  16. 134282

    134282 Four Time F1 World Champ BANNED

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    Wow! That sucks; sorry to read of your misfortune. Do you happen to remember the serial numbers of the two cars you consigned with Brotman?
     
  17. tr0768

    tr0768 Formula Junior

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    Guess I'm a bit mistified how a guy can sell a car without documentation. Who would pay for a high end vehicle without getting proper papers at the time of closing. When consigning one of my cars to an auction company they want the title at registration. I only give them a certified copy of the title, and have my bank hold the real one. When the auction company pays my account in full to the bank, then and only then do they get the real title. As far a a consigner is concerned, I would trust no one with the documents period. These guys for the most part have nothing invested and are living of the fat of the land, and you trust them with your expensive investment. They promise the sky and get a seller all hyped up just to get their hands on your prize.

    We had a scammer here in Seattle that took consignments and sold them without paying the actual owners. In most cases he also had the signed off title. So lets see you give up your toy and the title, and then you trust him to sell your car, and promtly bring you your money. now he has the cash and no incentive to pay you, so off he goes on yet another scam.

    Follow my advice TRUST NO ONE!!!!!!!!!!!!!!!!!!!!!!!!!!!! or as they say, if its too good to be true it most likely is.

    Howard Musolf
    1981 308gtsi
    1982 400i Cabriolet
    1988 Lotus Esprit Turbo
    1920'2-30's Indy Cars
    2 many brass era cars
     
  18. thecarreaper

    thecarreaper F1 World Champ Silver Subscribed

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    kneecaps.

    I am not kidding.
     
  19. BartonWorkman

    BartonWorkman F1 Veteran

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  20. Steelton Keith

    Steelton Keith F1 Veteran Owner Rossa Subscribed

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    Don't you just love the guys who are caught, convicted, and sent before the judge when they say "I just made a bad decision". Nobody ever breaks the law anymore, they just make "bad decisions".
     
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  21. jippiejake

    jippiejake Formula 3

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    And then there is Donnie Calloway.
     
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  22. Jack-the-lad

    Jack-the-lad Seven Time F1 World Champ Owner Silver Subscribed

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    “That’s not who I am, your honor.”:rolleyes:
     
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