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Keeping your edge inside a competitive market

Online resources 1025 Old Country Road Westbury Long Island management company that subleased cars from cash-strapped owners was arrested yesterday for pocketing the lease money, Nassau County officials said.

George Fallica, the master of Automotive Management Co., workout routines did business as G.C.F. Leasing, was faced with fraud, grand larceny, forgery and other crimes, Nassau County Da Denis Dillon said.

"Our investigation revealed that the defendant was involved with various kinds of criminal activities . . . which generated approximately 75 complaints to my office," Dillon said.

The organization, at 1025 Old Country Road, got newspaper ads saying it may well help those who had leased cars but were not able or unwilling to make additional payments.

The business promised it would find customers to take control the lease agreements, maintain payments current and alter the car's license, registration and insurance records to demonstrate that some other driver was now leasing the car.

Fallica did sublease the cars, Dillon said, but he failed to keep his other p romises.

One example is, he was quoted saying, one Long Island resident given back his 1991 BMW to Fallica in September 1995. The car was subleased to someone that made $7,470 in payments to Fallica. But Fallica only gave $990 to the holder of your car's original lease, and kept others, Dillon said.

Fallica later repossessed the motor car and subleased it again. This occassion he received $6,570 in payments, and turned not one of the money over to the holder of your car's original lease, Dillon said.

Fallica put copies of the Pennsylvania license plate about the cars he sublet, Dillon said.

Also, he produced phony temporary licenses and fraudulently obtained insurance cards to the vehicles, Dillon said.

Fallica, 48, of Oneck Lane, Westhampton Beach, was arrested for eight counts of grand larceny; three counts of forgery; three counts of falsifying business records; fraudulent output of license plates, and scheming to defraud.

He faces up to seven years in prison if convicted.