In the shadowy corners of the luxury car market, few stories manage to shock a seasoned industry—yet Bul Auto Sales in Jacksonville, Florida, is doing just that. Opened barely 15 months ago, the Karma Automotive-affiliated dealership has now shuttered its doors, leaving behind a trail of unanswered questions, angry customers, and an active criminal investigation spanning two states.

At the heart of the scandal is Vladimir Ranguelov, the dealership’s owner, who also ran a sister location in Albany, New York. Authorities allege that Ranguelov engaged in an elaborate scheme involving forgery, fraud, and double-selling high-end vehicles.

In one particularly brazen case, a Florida customer paid $250,000 for a Lamborghini—only to discover it had already been sold to another buyer. While one party received the exotic car, the other was left $250,000 short with no vehicle in sight.

Another victim, a 62-year-old man, transferred $260,000 for a McLaren 720S and drove the car for three months before discovering it had never been legally registered in his name. When the dealership offered to facilitate a sale of the McLaren to another buyer, the man was persuaded to purchase a $300,000 Rolls-Royce. As it stands, he’s now out a staggering $560,000 and owns neither vehicle.

Cases of deception keep piling up. A Dallas-based buyer wired $235,000 for a Corvette and flew to Jacksonville to collect it—only to find it had already been seized by the local Sheriff’s Office. In another disturbing incident, a 63-year-old entrusted the dealership to sell his 1994 Porsche 911 for $155,000. He was told the car had been sold, but law enforcement has found no trace of a new owner.

According to local reports, the dealership quietly ceased operations without notifying customers. Investigators believe that some vehicles were sold without settling existing liens, which explains why many buyers never received titles or the vehicles themselves.

Karma Automotive has since suspended its partnership with Bul Auto Sales, distancing itself as the investigation intensifies. Meanwhile, concern is growing among alleged victims that Ranguelov may have fled the country altogether.

This developing story underscores a critical reminder for luxury car buyers: even in a market built on prestige and performance, due diligence is essential. For those impacted, justice—and their money—may still be a long road away.

Source: News4Jax