Denny Hecker Faces Grand Jury

Troubles for former Minnesota dealer Denny Hecker are far from over, as now a grand jury has been convened in Minneapolis to decide whether Hecker with have to face criminal charges or not. Although this information has not been confirmed by Jeanne Cooney, a spokeswoman for the U.S. attorney's office in Minneapolis, a person close to the matter told Autonews the jury does exist.

The jury will look into several charges against Hecker, including fraud, forgery and embezzlement. The charges are all part of the lawsuit filed by Chrysler Financial back in July. In that suit, Chrysler is accusing Hecker of getting a $65 million loan from the finance company in 2007 by presenting a forged document from Hyundai Motor America.

Additionally, Chrysler claims that starting from fall 2008, Hecker embezzled $67.9 million by selling vehicles financed by the lender without paying back when the vehicles were sold.

Even more, the source says US attorneys are looking into a 2003 deal through which Hecker bought 1,100 daily rental program cars from Mitsubishi worth $8,000 to $17,800/piece for just $1,216 per vehicle in paperwork fees, plus $15.8 million in advertising credits.

Hecker's problems began in late 2008, when Chrysler Financial cut his credit line and subsequently sued the dealer for $550 million in unpaid loans. At the time, Hecker still owned 17 dealerships and Advantage Rent A Car.

Hecker filed for personal bankruptcy in early June. Later that month, agents from the Minnesota State Patrol, the Internal Revenue Service (IRS) and the Drug Enforcement Agency (DEA) raided the businessman's headquarters and several of his properties.