Nearly two weeks before the former Claremont Ford Lincoln dealership on Washington Street goes up for auction, its owner was permanently stripped of his retail sellers licence and ordered – once again – to pay full compensation to consumers on top of additional fines. That decision was reiterated late last week by the state Banking Department, and could be referred to the Attorney General’s Office upon appeal or failure to comply.
The dealership’s license was suspended earlier this summer after it failed to pay liens within 21 days – as required by law – on more than 100 vehicles taken as trade-ins.
Owner Arrien Schiltkamp was ordered by the Banking Department to pay off all liens and pledge between $500,000 and $1 million dollars, but has not yet complied.
Weeks later, the Ford Motor Credit Company seized more than $3.2 million dollars worth of inventory from the dealership, which as a result, forced the company to cease operations.