A 42-year-old Miami-Dade man is facing additional charges after authorities say he fraudulently obtained a vehicle just days before his arrest in a separate high-value auto scam.
Yumaikel Angulo was first arrested on August 16 and charged with one count of organized fraud, and six counts each of grand theft, obtaining a vehicle by trick, and obtaining property or credit by false statement. According to investigators, Angulo used false information to acquire six high-end vehicles, including a Chevrolet Corvette and a Cadillac Escalade, worth more than $385,000 combined.
Authorities say the scheme involved what is known as a “credit bust out,” where individuals either make multiple large purchases before the transactions appear on credit reports, or manipulate their credit history to hide negative financial activity. Angulo allegedly submitted applications claiming an annual income significantly higher than his actual earnings to secure vehicle loans.
Following news coverage of the arrest, a manager at a Toyota dealership in Doral recognized Angulo’s mugshot and contacted law enforcement. The manager told investigators that on August 14 — two days prior to Angulo’s arrest — he visited the dealership and expressed interest in purchasing a Toyota Tacoma valued at $43,500.
Angulo provided a letter that appeared to be from a legitimate financial institution, indicating funding for the purchase had been approved. The dealership finalized the transaction and released the vehicle. However, no payment was ever received, and the financial institution later confirmed that Angulo had been denied financing.
With this new incident, Angulo is now facing further charges. Investigators are continuing to review other transactions and say additional victims and charges may emerge.
