Former Chattanooga car dealer Joseph Prebul is in a New York courtroom this morning to stand trial for 11 counts of wire fraud and one count of mail fraud.
Jury selection is expected to start today.
Prosecutors allege Mr. Prebul swindled his New York-based brother-in-law out of close to $7 million, making him believe the money was being invested in an interest-bearing account but instead was using it to help his businesses stay afloat.
Mr. Prebul’s dealerships in Chattanooga and North Georgia now are in bankruptcy because of the criminal allegations, claims the money represented “loans.”
Check back for updates from New York.
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