50M Luxury Car Scheme: Federal Agents Uncover Massive Fraud

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What's up Columbus? From city council to street culture, get your daily dose of Columbus local news in just 2 minutes. Smart, sharp, and always on time. Subscribe!

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50M Luxury Car Scheme: Federal Agents Uncover Massive Fraud

Columbus News Today | 2 Min News | The Daily News Now!

1 minute 55 seconds

1 day ago

50M Luxury Car Scheme: Federal Agents Uncover Massive Fraud

Federal agents uncover a $50 million luxury car scam, allegedly defrauding at least 50 investors across multiple states. Two Columbus business owners contributed $21 million to this elaborate fraud. Saththia G. Lingan, charged with wire fraud and money laundering, ran a Ponzi scheme from 2020 to 2025, promising high returns on exotic car investments. However, no cars were purchased in many cases, and the same vehicle was funded by multiple investors. Lingan, currently in Florida jail, faces a preliminary hearing on December 12th.

The Daily News Now! — Every city. Every story. AI-powered.

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