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Keeping your edge inside of a competitive market

Who owns 1025 Old Country Road Westbury Long Island management company that subleased cars from cash-strapped owners was arrested yesterday for pocketing the lease money, Nassau County officials said.

George Fallica, the master of Automotive Management Co., keeping up with did business as G.C.F. Leasing, was charged with fraud, grand larceny, forgery and various crimes, Nassau County Da Denis Dillon said.

"Our investigation said the defendant was involved with several kinds of criminal activities . . . which generated approximately 75 complaints to my office," Dillon said.

The firm, at 1025 Old Country Road, got newspaper ads saying it would help folks that had leased cars but were unable or unwilling to make additional payments.

The company promised it could find customers to control the lease agreements, maintain your payments current and change the car's license, registration and insurance records to show some other driver was now leasing your car.

Fallica did sublease the cars, Dillon said, but he failed to keep his other p romises.

For example, he explained, one Long Island resident given over his 1991 BMW to Fallica in September 1995. The auto was subleased to someone that made $7,470 in payments to Fallica. But Fallica only gave $990 to the holder on the car's original lease, and kept others, Dillon said.

Fallica later repossessed the vehicle and subleased it again. Now he received $6,570 in payments, and turned no money over to the holder with the car's original lease, Dillon said.

Fallica put copies on the Pennsylvania license plate over the cars he sublet, Dillon said.

Young drivers. produced phony temporary licenses and fraudulently obtained insurance cards for your vehicles, Dillon said.

Fallica, 48, of Oneck Lane, Westhampton Beach, was charged with eight counts of grand larceny; three counts of forgery; three counts of falsifying business records; fraudulent creation of license plates, and scheming to defraud.

He faces up to seven years imprisonment if convicted.