The N.C. Division of Motor Vehicles arrested Charlotte car dealer Reggie Hubbard Thursday and charged him with failing to pay state taxes and obtaining property through false pretenses.
Hubbard, 58, owns Honda of Lake Norman, Metrolina Chrysler Jeep Dodge and the Metrolina Used Car / Truck Superstore.
He is charged with 25 counts of embezzlement of state property and two counts of obtaining property through false pretenses, the DMV said.
The DMV alleges that Hubbard failed to pay state taxes on at least 25 vehicles and did not pay lien holders when two vehicles were sold. The charges were brought by the DMV’s license and theft bureau in response to customer complaints, according to the Charlotte Observer.
Hubbard’s bond was set at $135,000 — $5,000 for each charge.
Earlier this month, Hubbard Automotive/Lake Norman LLC, also known as Honda of Lake Norman, filed for Chapter 11 bankruptcy protection. He listed debts of between $1 million and $10 million.
Hubbard has been named one of the nation’s top African American car dealers by Black Enterprise magazine. Wachovia named him 2004 entrepreneur of the year.