Truist Bank

EXCELL AUTO BOCA RATON: Bank Freezes Account As Fraud Investigation Continues

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TRUIST BANK SHUTS DOWN ACCESS BY SCOTT ZANKL, KRISTEN ZANKL TO EXCELL AUTO GROUP FINANCE ACCOUNT.

NEW LAWSUIT OVER AUDI A8 WITH LAMBORGHINI ENGINE.

BY: ANDREW COLTON | Editor and Publisher

BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2022 MetroDesk Media, LLC) — Truist Bank has frozen the account of Excell Auto Finance, as lawsuits — and a criminal investigation — continue into the Excell Auto Group.

As BocaNewsNow.com reported exclusively in early April, luxury and exotic cars seemingly vanished from the dealership at 1001 Clint Moore Road in Boca Raton. CEO Scott Zankl told BocaNewsNow.com exclusively that it was part of a civil dispute with his “landlord” who took the vehicles. But lawsuits filed within days of the disappearance revealed the “landlord” to be a financier who is accusing Scott Zankl and Kristen Zankl of taking part in “out of trust fraud.” That’s when a car dealership borrows money to buy cars, then sells those cars, but never repays the loans. Excell Auto Group, and the Zankls, are accused of mismanaging millions of dollars in cash and vehicles.

Now, Truist Bank has frozen one of the company’s accounts. Wrote Paul Berryman, Senior Vice President of Truist Bank in a letter obtained by BocaNewsNow.com: “The purpose of this letter is to advise you that, due to information obtained following a review of public records, Truist Bank is placing a hold on the above-referenced account. As you should be aware, the Account is subject to the Commercial Bank Services Agreement … Truist will require an order from a court regarding disbursement of the finds in the Account…”

Excell Auto Finance, which public records show is controlled by Scott Zankl, is suing for access.

Meantime, a new lawsuit accuses Excell Auto Group of selling an Audi R8 “with a Lamborghini engine” to customer Geoffrey Keable for $180,000. After what is described in a filing as a high-pressure sale, Keable purchased the vehicle and was told it was “free and clear” of any outstanding loan. But the Zankls — and their employees at Excell Auto Group — allegedly lied. US Bank held a $100,000 lien on the vehicle. Mr. Keable can not obtain title for the vehicle. And the Zankls, allegedly, made off with his $180,000. Read that suit, below.

BocaNewsNow.com has learned that at least one area law enforcement agency is investigating multiple claims against the Scott Zankl, Kristen Zankl, and Excell Auto Group. The company filed for Chapter 7 Bankruptcy Protection, claiming inconsequential assets on as much as $50,000,000 in debt. The couple allegedly used the value of their home in the West Delray Beach community of Seven Bridges for multiple loans.

ZANKL-SUIT-APR-27

 

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