Castle Rock Police have collected32 complaints alleging Castle Pines Auto Sport did not pay off loans on trade-in vehicles, sold non-existent extended warranties and sold cars for which the dealership did not own a title.
103.5 The Fox morning show host Michael Floorwax, whose real name is Michael Steinke, is a manager of Castle Pines Auto Sport LLC, the parent company of the failed dealership, according to the Colorado Department of Revenue.
The other manager, Wayne Weaver of Castle Rock, operated the dealership. Weaver's whereabouts are unknown and police describe him as a "person of interest," in their investigation.
Steinke/Floorwax devoted time in his Thursday morning show to addressing the story first reported by 9NEWS on Tuesday.
"I can give everybody my word there were no improprieties caused by this boy right here," Steinke told listeners. "People know I wouldn't steal from anybody."
Steinke, who declined an interview with 9NEWS through his attorney, said during his show that he was working to arrange restitution for customers who have lost money. Investigators have estimated the losses in the hundreds of thousands of dollars.
Steinke's attorney, Peter Schaffer, described his client as an investor who did not have day-to-day responsibilities at the dealership. Schaffer declined to disclose the extent of Steinke's ownership.
"I don't even know what the business is all about," Steinke said on the radio. "It's a morass."
Both Steinke and his attorney claim he lost more money because of this than all of the others combined.
"I was trying to help somebody and other people ended up getting hurt," he explained. "I'm going to do my best my very level best to somehow fix this."
Steinke expressed confidence that law enforcement will find Weaver, telling listeners, "They'll get him."
Castle Rock Police are conducting a joint investigation with the Auto Industry Division of the Colorado Department of Revenue.
Lt. Douglas Ernst says the investigation could lead to felony charges including theft, defrauding a secured creditor and equity skimming of an automobile.
Attempts by investigators and reporters to speak with Weaver at-length have been unsuccessful. The phone answering system at the shuttered dealership says it is full and cannot accept new messages. Weaver's cell phone voicemail provides a similar message. No one answered the door at his home in Castle Rock Tuesday afternoon. A call to his attorney in Colorado Springs was not returned. Calls to three other dealership employees were also not returned.
9NEWS was able to speak with Keith Nichols, who identified himself as a former part-time employee of Castle Pines Auto Sport.
"I knew he [Weaver] was operating on a shoestring," said Nichols.
"It was a nasty place," Nichols said. "I wouldn't recommend it to a dog."
"I wish he was man enough to show up and take care of his problem, but he's not," said Greg Adams, a customer who claims he lost $54,000 to Weaver.
"He knew what he was doing," Adams said. "I'm not the first one. I wasn't the last one."
The dealership on Park Street has been dark for a week. Last week, customers say creditors came and repossessed all the cars left on the lot.
Investigators say some customers who purchased a vehicle from Castle Pines Auto Sport are now finding they cannot get a title because it was never purchased from a financing company as claimed by the dealership.
Kimberly Reffel is one such customer. She says she cut a $24,000 check to Weaver for an Acura SUV.
"That check has cleared. He's got the money and I have no way of obtaining a free and clear title to my car," she said. "I trusted him and maybe I shouldn't have done that."
Numerous other customers have told 9NEWS that Weaver did not pay off liens on vehicles they traded in, leaving them responsible for both loans and without their original vehicle.
The dealership's financial troubles also include an ongoing lawsuit filed by a former employee, John Andrews, who is seeking $27,000 in back wages.
Castle Pines Auto Sport was a member of the Colorado Independent Auto Dealers Association until March when Weaver stopped paying membership dues, according to the group. The dealership was put on suspension by the Better Business Bureau after a 9NEWS report on the investigation Tuesday.
