Texas man, 29, ‘sold his wrecked $12,000 truck for parts on Facebook to stop the repo man from taking it because he couldn’t pay back the bank loan due to insurance lapsing’
- Aaron Mark Johnston, 29, was indicted on a felony count of preventing creditors from repossessing his truck as collateral
- Johnston had taken out a bank loan to buy the $12,000 Ford F-250 truck
- The bank said he was 71 days behind in paying back the loan before he wrecked it
- The truck was then taken to a storage lot, while Johnston informed the bank that his insurance coverage had lapsed and he couldn’t pay back the loan
- The bank then said that the towing company would sell his truck for storage fees
- Johnston retrieved the truck and then allegedly sold it for parts on Facebook
A Texas man who still owed money on his truck is accused of selling it for parts on Facebook, just to keep it out of the repo man’s hands.
Court documents obtained by the Wichita Falls Times Record News revealed that Aaron Mark Johnston, 29, of Wichita Falls, Texas, has been indicted on a felony count of hindering secured creditors for an amount between $2,500 to $30,000.
According to the August 20 indictment, Fidelity Bank in Wichita Falls said that Johnston had taken a loan out to buy a 2003 Ford F-250 truck valued at about $12,000.
Aaron Mark Johnston, 29, was arrested in March on a felony count of hindering a creditor from repossessing his truck. He was indicted on August 20
A bank employee emailed Johnston on February 27, telling him that the loan was 71 days overdue and that he needed to make a payment immediately, otherwise the bank would repossess the truck.
Three days later, on March 2, Johnston wrecked the truck.
The police officer who investigated the wreck, cited Johnston for failure to maintain financial responsibility, meaning that he didn’t have enough money to pay for the damage resulting from the crash.
The truck was then towed to a storage lot.
A week and a half later, on March 11, Johnston told a Fidelity Bank employee that he had gotten into a car accident and that his insurance company, Geico, wouldn’t cover the damage because his policy had lapsed.
Johnston had taken a loan out from a bank to buy the $12,000 Ford F-250 truck, which he was 71 days late on repaying. On March 2, he wrecked the truck (file image)
Fidelity Bank, in Wichita Falls, Texas, told Johnston they were going to repossess the truck and not to sell the truck for parts, but he did it anyway through a Facebook group
The employee informed a bank executive, who then emailed Johnston to that the towing company would sell the truck to pay for the storage costs. The executive also asked how Johnston intended to pay back the loan without the insurance coverage.
Johnston failed to reply to the executive’s email, so the executive reported the incident to the sheriff’s department.
The court document revealed that during a phone call between Johnston, the executive and another bank employee, Johnston was told not to ‘part out’ the truck.
Two days after being informed that the towing company would sell his truck, on March 13, Johnston allegedly retrieved the truck from the storage lot – without the bank’s permission – and broke it down to sell for parts via the The Original Wichita Falls Trading Post, according to authorities.
The bank reported what happened to police on March 19.
A March 22 email revealed that Johnston had sold the truck for parts and told the repo man ‘good luck finding it.’
Johnston was then arrested on March 28 and released the next day on a $15,000 surety bond, according to jail records.