ENGLEWOOD, N.J. -- An Englewood man got probation from a judge in Hackensack for bouncing an $84,500 check off a friend, nearly costing him his business, after handing over a $6,000 cashier's check as a down payment on restitution.
Dean Buncombe, 36, was a “finder” for luxury autos -- locating and negotiating the sale of cars, arranging their delivery, and earning a commission of one percent on the sales.
After buying an $83,000 Lexus in Massachusetts for an Englewood buyer who paid him up front, Buncombe got into a jam: Authorities said he sold cars for export despite a contract with a vehicle wholesaler, for which he was forced to pay a $10,000 fine.
That left him short on the Lexus and forced the Englewood dealer to take a $75,000 loan -- at 7% interest -- to pay for the car.
As part of a plea deal with prosecutors, Buncombe agreed to continue paying his former business associate $2,000 a month -- which will take three years and four months to complete.
Superior Court Judge Edward A. Jerejian approved the deal on Friday, Oct. 30, afer hearing from the friend, who last month said that he still considers Buncombe a brother and would welcome him into his home.
Jerejian told Buncombe to be prepared to fork over $2,000 on Dec. 4.