Margin Call Gentlemen- VW Credit accuses Lamborghini of Orange County of outright Theft.

About two months ago, reports coming in from California's Orange County Register indicated the world's largest Lamborghini dealership, Lamborghini Orange County, was closed indefinitely due to unspecified financial troubles. Now, a new report by the publication has shed more light on the situation that has Volkwagen Credit Inc. accusing the dealership's owners of stealing around $12 million worth of product. In court documents filed recently, VW's U.S. credit arm alleges owners Vik, Asdghig, Nora and Sossi Keuylian of the "outright theft" of the Lamborghini supercars. The dealership reportedly sold the $200,000-plus exotics at deep discounts and managed to move some 54 models in only eight days -- which equates to 8% of all U.S. Lamborghini sales in 2008. Volkswagen Credit provided financing to the dealership and its sister location in Calabasas, California, and covered the cost of the cars before their sale. There is no indication of where the car's sales proceeds ended up, VW Credit insists. Jeffrey Gubernick, lawyer for the Keuylians, is expected to ask for a lessening of VW's multimillion dollar restitution to punitive damages when the case goes to hearing on January 22. Source: The Orange County Register