Dealer loses credit licence
A Dartford motor dealer has had his application for a renewed consumer credit licence rejected.
A Dartford motor dealer has had his application for a renewed consumer credit licence rejected.
The Office of Fair Trading (OFT) turned down the application by Edward Pascal Palmieri, whose last known address was Thames Road Garage, Thames Road, Dartford, Kent, because it did not consider him a fit person to sell finance to car buyers.
The OFT says Palmieri breached the Trade Descriptions and Consumer Protection Acts by giving false and misleading information to buyers, particularly on the pricing of cars.
Palmieri had failed to declare these convictions on his application, and had also falsely claimed to have never previously been involved with business that had applied for consumer credit licences.
The decision by the OFT prevents Palmieri from arranging finance for motorists but does not stop him buying or selling cars.
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