Embattled Corbin car lot owner arrested Monday

After weeks of investigation, a south Corbin auto dealer is now behind bars for allegedly processing fake loans – a scam prosecutors say may have topped the $1 million mark.
Elvis Presley Proffitt, 28, owner of No Hassle Auto Sales, was arrested outside Whitley Circuit Court Monday where he surrendered to police. Already indicted by a Whitley County grand jury in August for theft of identity, authorities claim Proffitt continued to falsify loan applications through his business using the identity of customers who either purchased cars at the lot, or considered a vehicle purchase.
In some cases, investigators say Proffitt would process up to three loans on a single vehicle. Victims apparently got wise when creditors began seeking payment.
“I know that there are over 100 separate incidents,” said Chief Assistant Commonwealth’s Attorney Robert Stephens said Monday. “We are looking at over 100 fraudulent loans where he is just making up loans. Over $1 million has been stolen.”
Proffitt was in court Monday for a hearing stemming from his Aug. 8 indictment for a similar incident.
Corbin Police Capt. Tim Helton, who has headed up the investigation into Proffitt’s alleged activities, said he’s had scores of complaints and said he’s been working with the FBI and U.S. Attorneys on a potential federal case.
“When it involves banks and stuff, it becomes federal,” Helton said. “The case is still being developed and processed and is being forwarded to the Commonwealth Attorney’s office and the Assistant U.S. Attorney’s office.”
No Hassle Auto Mart opened in April and is located on Cumberland Falls Hwy. in Corbin. Helton said fake loans were processed from near the time it opened until recently.
London attorney Warren Scoville, who is representing Proffitt, said accusations against his client are exaggerated.
“I don’t know what the figure is, but I can guarantee you that $1 million is a gross exaggeration. That is a figment of someone’s imagination,” Scoville said. “There are some title problems out there, but they don’t even approach a figure like [$1 million]. What he is charged with is some of the applications for loans contained erroneous information. The question is whether he put the erroneous information on there, or whether it was provided by the people who purchased the cars.”
Proffitt was charged Monday with one count of Theft of Identity and is being held in jail on no bond. Helton said more charges are likely considering the number of complaints in the case.
Scoville has requested a bond hearing for his client. Circuit Judge Paul Braden, who signed the most recent arrest warrants for Proffitt, set a hearing date for Nov. 22. Formal bond hearings are relatively uncommon, and prosecutors say they will provide numerous witnesses at the hearing to testify about the charges.
“It is something defendants are entitled too,” Stephens said. “If that happens, we will have plenty of witnesses stating about Elvis’s activity.”
Scoville said his client is likely the victim of a paperwork snafu.
“The bottom line is, people have a car. Some of them quit paying on the loans. When they quit paying on their car loans, they were investigated. It was discovered that the paperwork wasn’t all in order. Who falsified the paperwork if it was falsified? No one knows yet,” Scoville said.
“I haven’t seen anything yet that would indicate to me that he should walk in tomorrow and plead guilty.”