STUDIO CITY—Serge Oganesian, 45, pleaded guilty to 6 counts of 12 odometer computerized schemes that were leased to dealerships in San Fernando Valley areas. Ricardo Santiago of the Los Angeles County District Attorney Office announced in a press release on Monday, August 26.
Oganesian pled guilty to one count of conspiracy to commit grand theft and five counts of computer access and fraud.
The rollback scam, altered mileage estimated $76,394 in false appreciation. Oganesian allegedly started his business April 2015 where he formed connections with dealerships in North Hollywood, Glendale and Studio City to perform computerized readings on 12 vehicles.
Vehicle valuation is highly dependent on vehicle mileage. Consumers rely on the vehicle odometer reading in making their used car purchases, the prosecutor added.
The case was investigated by the California Department of Motor Vehicles, with assistance by the Los Angeles District Attorney’s Office’s Bureau of Investigation.
Oganesian is expected to face 16 months in jail including a $15,000 fine penalty. He is scheduled for sentencing on April 21, 2020 in Department 50 of the Foltz Criminal Justice Center.