A man is facing fraud charges in Salt Lake County after police say he tried to get a bank loan for a vehicle that had already been totaled and sold for scrap months earlier. His name is Edgar J. Diaz Rincon, and he’s 46.
Diaz Rincon was booked into the Salt Lake County Jail for investigation of communications fraud and theft. Police believe he may be part of a larger organized fraud ring operating the same way.
How It Was Discovered
Unified police were called to a bank in Kearns after employees suspected fraud was in progress. According to a police booking affidavit, investigators found that Diaz Rincon was attempting to obtain a loan on a vehicle for over $30,000.
There was just one problem, the Vehicle Identification Number he’d given the bank actually belonged to a 2026 Mustang that had already been totaled and sold at auction roughly a month earlier for just $7,600, in Texas.
The Fake Paperwork Behind It
Here’s where it gets interesting. The dealership listed on the “motor vehicle contract of sale” document Diaz Rincon submitted turned out to be a real business. The contract itself, though, was fraudulent, since it listed the totaled vehicle for several times more than what it had actually sold for at auction just weeks before.
That’s a pretty specific kind of fraud, using a real dealership’s name and format to make fake paperwork look legitimate, while pairing it with a VIN tied to a car that no longer existed in any usable condition.
Ties to a Bigger Operation
Police say Diaz Rincon is in Utah on a work authorization from Venezuela. Investigators believe the scheme he’s accused of running isn’t an isolated incident, but part of a larger organized fraud ring that’s been operating in the same manner, likely targeting multiple banks with similar totaled-vehicle loan applications.
Where the Case Stands
Right now, Diaz Rincon’s arrest is still at the investigation stage, and no formal charges beyond the initial booking allegations have been detailed in public reporting. As with any case at this point, he’s presumed innocent unless proven guilty in court.
Given that police are treating this as potentially connected to a broader fraud ring, this case is worth watching for whether additional suspects or charges surface as the investigation continues.