LOCAL : Costa Mesa Auto Dealer Surrenders in Alleged Luxury Car Swindle

A Costa Mesa auto dealer has surrendered to police to face criminal charges that he allegedly swindled owners who gave him their Rolls-Royces and exotic cars to sell on consignment, police said today.

About 50 car owners complained to police that Gerry Concannon, 39, through his now-bankrupt Concannon’s Horseless Stable showroom on Red Hill Avenue, had sold their cars without reimbursing them or that he used the cars as collateral to obtain loans, said police Sgt. Rob Smith. The cars were valued at $1.5 million.

Concannon was charged with 15 felony counts that included grand theft and altering motor vehicle titles. He surrendered Wednesday at the Costa Mesa police station, accompanied by his attorney.

At the request of the Orange County district attorney’s office, only the 15 strongest cases were submitted for prosecution, he said.

“He would sell it to somebody else and would pocket that money,” Smith said. “On some, he would get the pink slip, so it appeared he held title; others he used as collateral for loans.”