IRS Investigates Dallas Dealer – Car Pro News

IRS investigatesInternal Revenue Service investigators swarmed the multimillion-dollar Preston Hollow home of a Dallas businessman, the agency confirmed.
Jeremy Wiggains, 38, owns a high-end, Internet-based car dealership that recently shut its doors because of bankruptcy.
Straight Line Automotive, which has a physical address in the 2700 block of Northaven Road, filed for bankruptcy in mid-July, according to paperwork that NBC 5 uncovered.
Wiggains declared bankruptcy last week.
An IRS representative would only confirm that investigators were “conducting official business” at Wiggains’ home in the 6500 block of Northaven Road. The house has an estimated value of $3.2 million.
Exactly what agents were looking for is not yet clear. The search warrant investigators used to gain access to the home has been sealed, said IRS spokeswoman Denise Corcoran.
A representative from the Drug Enforcement Agency was assisting in the investigation at the Wiggains home.
What asked about the federal agents’ presence at the home, Gerrit Pronske, a Dallas bankruptcy attorney representing Wiggains said, “It is news to me.”
Pronske said he hopes Wiggains can put the bankruptcy concerns behind him as quickly as possible.
Wiggains was not available for comment.
The list of creditors detailed in Wiggains’ bankruptcy filing is three pages long. The creditors include banks, car dealerships, auto detailers, audio companies and several people who told NBC 5 they purchased cars from Straight Line Automotive.
Wiggains disclosed in his bankruptcy filing that his personal assets are between $500,000 and $1 million and that he owes between $10 million to $50 million to various entities.
Three of the creditors listed — Straight Line customers who live in Texas, Alabama and Massachusetts — told NBC 5 that they had purchased their luxury cars from Wiggains but had yet to receive the title to the vehicle.
Among the listed names of creditors are Orlando Scandrick, a Dallas Cowboys defensive back, and Martellus Bennett, a former Cowboy tight end who now plays for the Chicago Bears.
Scandrick would not comment about what he may be owed by Wiggains when he was approached at Cowboys training camp in Oxnard, California.

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