A former North Georgia used car dealer is scheduled to be sentenced this month for defrauding lenders. Mitch Simpson pleaded guilty to a $3 million wire fraud scheme in July.
Sentencing was initially scheduled for October 8 but was pushed back to mid-November at prosecutors’ request due to a scheduling conflict.
Simpson, who lives in Cornelia, is the former owner of Mitch Simpson Motors in Cleveland. Authorities arrested him in 2019 as part of an FBI investigation into his business dealings. According to federal prosecutors, Simpson’s dealership took out millions in loans by lying to lenders. In addition, they say Simpson operated ‘out of trust’ by not promptly repaying those loans.
‘I messed up’
Simpson submitted a pre-sentencing statement to the court on Nov. 6 and expressed “great shame” over the situation. He said he “takes full responsibility” for his actions.
“I cannot fully express the regret that I have for even being involved in this matter. It has been an absolute tragedy for my family and loved ones,” he wrote.
Simpson went on to say, “Life is complicated, and while I think I never intended to cause harm to anyone, now understand how badly I messed up.”
The former used car dealer and well-known radio pitchman said he now sees that there were many opportunities when he should have quit. “I made the horrible mistake of staying because I trusted the people involved.” He did not elaborate on who those people are.
Sentencing
Simpson’s statement was accompanied by several letters from family and friends who vouched for his character, hoping for a lighter sentence.
Under the terms of the plea agreement, Simpson faces a maximum of 20 years in prison, up to three years of supervised release, and a maximum $250,000 fine. He must also pay full restitution to the victims and forfeit all property and proceeds related to the offense.
In exchange for the guilty plea, U.S. Attorney Ryan Buchanan agreed not to bring further criminal charges against Simpson. He also agreed to recommend a lighter sentence.
