Milan Auto Dealers Under Arrest - News and Weather For The Quad Cities -

Milan Auto Dealers Under Arrest

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The owners of the now defunct Blackhawk Autoplex are accused of nearly $1.5 million dollars in bank fraud.

It's a story we first told you about in 2007. That's when Black Hawk State Bank repossessed the cars at the Milan dealership.

Now, Jens and Pamela Hirsch have been arrested. Federal prosecutors allege that the Hirsches had a line of credit to buy cars that they would later re-sell. Prosecutors say under the agreement, when they sold the cars they were supposed to pay the bank back.

Prosecutors say the Hirsches repeatedly and intentionally failed to repay the bank. They both face more than a dozen charges and could face 30 years in prison for every count.

Meanwhile, the site of the former used car dealership is quickly transforming into housing. Two new apartment complexes, with 24 apartments, are going up in its place. The buildings for Cobblestone Commons are already taking shape.