Owner of auto auction firm charged with stealing over $1M

LINCOLN, Neb. (AP) — The owner of the defunct Nebraska Auto Auction business has been charged with fraudulently financing more than $1 million worth of vehicles.

Prosecutors charged 63-year-old Mark Cooley with theft by deception and he made his initial appearance in court on Wednesday.

Lincoln Police said in court documents that between 2017 and 2019 Cooley improperly transferred $938,405 from a vehicle financing account for 74 vehicles that were already financed by another company or had been purchased outright by dealerships.

Police said that six other vehicles worth $103,815 more had been financed with fraudulent details about the purchases, such as fictitious buyers, or lacking required information.

The total loss in the thefts was $1,043,220.

Cooley waived his right to a preliminary hearing Wednesday and posted bond. Cooley’s attorney Stephen Kraft declined to comment on the case on Thursday.

Categories: Lancaster, Nebraska News