Valley businessman admits to fraudPosted: Updated:
PHOENIX -- A Valley businessman who has been the subject of several 3 On Your Side profiles has officially ended his ongoing battle with the law by pleading guilty to three counts of fraud and one count of theft, all related to a car-sales scam.
Victims of the scheme say they turned their vehicles over to Stanley Torgerson to sell, but never received their money once the deals closed.
Robert Mangianetti says he had Torgerson sell his classic BMW, but received a dime.
"It's not brain surgery. It absolutely isn't," he said. "I just want what’s entitled to me."
As part of Monday's plea deal, Torgerson was ordered to pay up to $1.5 million in restitution, including $100,000 to his victims, before his Aug. 16 sentencing. It's expected that Torgerson will serve between 2.5 and 3.25 years in prison.
Many victims are not happy about the plea deal, saying Torgerson got off too easy.
Some of Torgerson's victims will be at his sentencing. In fact, one victim we spoke to Monday said he'll fly in from Birmingham, Ala., just so the judge can hear what he has to say.