Longmont man pleads guilty in vintage car fraud

Jun. 24—A Longmont man indicted by a grand jury after police said he collected about $1 million to clone vintage Chevrolet Camaros but never delivered on the cars has entered into a plea agreement in his case.

Frederick Spender Wetherall, 59, pleaded guilty to one count of criminal mischief — more than $1 million, a Class 2 felony. The case was prosecuted by the Colorado Attorney General's Office.

As part of the agreement, Wetherall will be sentenced to probation, with the length of the sentence up to a judge. He will be screened for economic crimes probation.

Attorneys said Wetherall will also pay restitution of around $1.15 million, though the final amount has yet to be determined. He will have to make an upfront payment of $100,000 and then minimum payments of $500 a month. Should he fail to make payments, he could be subject to resentencing.

Boulder District Judge Thomas Mulvahill noted that at a rate of $500 a month it would take Wetherall more than 100 years to pay back the restitution amount, and said he had received concerned letters from victims about the case.

But attorneys said the $500 per month amount was the initial minimum, and that based on his employment, probation could increase that minimum amount.

Mulvahill initially accepted the guilty plea and set Wetherall for sentencing on Sept. 23.

The initial charges in the grand jury indictment, including four counts of theft between $100,000 and $1 million, one count of theft between $20,000 and $100,000, tax evasion and failure to file tax returns, were dismissed as part of the plea deal.

According to the indictment, Wetherall was the owner of a business called Wetherall Restorations in Longmont that constructed "clones" of 1969 Camaro ZL-1s by using the shell of a Camaro to build a replica to the customer's specifications.

Investigators said Wetherall advertised through eBay and would ask customers to pay cash up front for the vehicles and sign a contract that included the specifications for the vehicle but no expected completion date for the Camaro.

According to the indictment, several customers called police after reportedly sending Wetherall payments between $20,000 and $110,000 for vehicles that Wetherall never delivered.

Between 2013 and late 2019, police estimated Wetherall collected about $1 million from various customers without ever delivering a vehicle and never issuing full refunds when customers asked for them.

Police said based on bank records, it appeared Wetherall spent the money he did receive on personal and business expenses.

A detective with Longmont police would regularly visit Wetherall's shop and determined that Wetherall would sometimes send photos of different Camaro's to convince customers their orders were further along than they were.

Wetherall reportedly would blame delays on body or paint work being done by other vendors, but several vendors told police they had repeated problems obtaining payment from Wetherall.

In addition, police determined Wetherall did not register his business and did not pay personal or business taxes because the shop was a "hobby," even though police determined it was his sole source of income.