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BILLINGS - A former Billings car dealer who went bankrupt and left lenders and customers with hundreds of thousands of dollars in losses has pleaded guilty to bank fraud.

Rodolfo N. Gutierrez Jr., who owned Incredible Auto Sales LLC and operated Incredible Kia, appeared in federal court Monday for failing to repay a loan from Little Horn State Bank.

Prosecutors say the 55-year-old Gutierrez told employees not to repay Hyundai or Little Horn State Bank for amounts loaned on some vehicles that had been sold. He also was accused of failing to repay outstanding loans on vehicles that customers traded in, causing 29 customers to be responsible for nearly $243,000 in outstanding loans after Incredible Auto Sales filed for bankruptcy in October 2006.

 

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