Studio City News
Man Arrested For Embezzling Porsche
By Melissa Simon
Sep 9, 2013 - 5:15:29 PM

Porsche Panamera stolen by suspect. Photo credit: LASD
STUDIO CITY—Authorities arrested a Studio City man on September 7 on suspicion of embezzling a Porsche Panamera from an auto leasing company in Los Angeles, according to a release by the Los Angeles County Sheriff’s Department (LASD).

Andrew Parker Foley III, 36, was taken into custody on September 4 after he was traced to his home in the 3200 block of Dos Palos Drive, according to the release by the LASD.

Upon their arrival, detectives issued a warrant and discovered the Porsche in Foley’s garage as well as a credit card manufacturing and theft operation with a potential loss of $2.5 million, according to the release.

“In addition detectives recovered numerous credit card manufacturing machines, and over 6,000 blank credit cards with counterfeit American Express, Visa, Discover, and MasterCard logos as well as an assortment of counterfeit driver licenses and identification cards,” the release said.

Blank credit cards and counterfeit bank cards. Photo credit: LASD
Foley embezzled the 2010 Porsche Panamera from the auto leasing business in December 2011 and detectives have been attempting to track Foley and the vehicle using a stolen vehicle system, according to the release.

Anyone with additional information should contact the Los Angeles County Sheriff’s Department Taskforce for Regional Autotheft Prevention at 626-572-5610. To report information anonymously, call Crime Stoppers at 800-222-8477 or text TIPLA with your tip to 274637. 

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