VINCENNES, Ind. (WTWO/WAWV)— The Indiana Secretary of State Diego Morales has announced that the dealer license held by Banks One Stop Auto in Vincennes has been revoked following an in-depth investigation.
According to the news release, after the Indiana Auto Dealer Services Division received several complaints about Banks, they began an investigation into the dealership on July 31, 2024. After looking into the dealership’s records and conducting interviews with the affected parties, the news release states that the division found that Banks was engaging in fraudulent activities.
One such uncovered practice was submitting falsified forms to the Indiana Bureau of Motor Vehicles, where they found that at least one individual’s signature was used without their consent or knowledge. As many as 92 forms may have been affected.
“This decision is rooted in protecting Hoosiers and preserving trust in the Indiana auto industry. As your Secretary of State, I will always fight to uphold the law, protect Hoosiers, and hold bad actors accountable. The vast majority of Indiana dealers are honest and hardworking. We expect integrity from our auto dealers,” said Secretary of State Morales.
Due to these transgressions, the dealership’s license has been revoked, and the owners, James M. Banks and Tanna Banks, are barred for life from operating or managing a dealership in the state. Banks told WTWO, “We are appealing the decision.”
The dealership is also being required to return all metal dealer plates within 30 days and pay a $250 fine related to their audit, with failure to comply leading to more serious consequences. For more information, visit this link to get to the Indiana Auto Dealer Services Division website.
