Hoffman Motorsports LLC had taken out a loan for $171,000 that was due in November of 2024. Hoffman used a 2015 Lamborghini and a 2015 Mercedes Benz as collateral.
In March of 2025, Hoffman Truck Parts LLC was given a loan for $171,000, using the same vehicles as collateral, to pay off the first loan. The loan was due Sept. 26 of 2025. The bank official said no payments had been made.
Investigators were provided Carfax reports from the bank official which showed the cars used as collateral were registered out of state.
The Carfax report listed the Lamborghini for sale in August of 2024. Investigators called the company which had it listed and they reported they had bought it from Hoffman the same month, saying they had purchased several vehicles from Hoffman Motorsports and they provided Hoffman’s cell phone number.
The Carfax report indicated the Mercedes last known location was in Iowa. Dispatch ran the vehicle identification number and they found the owner. When contacted, the owner of the car provided a copy of a cashier’s check made out to Hoffman and a bill of sale dated in June of 2025.
Hoffman is facing two counts of defrauding a secured creditor and one count of theft of property. He is free after posting $10,000 bond.
PREVIOUS ARREST
Hoffman was arrested in September on a felony hot check charge.
The check, in the amount of $2,350, was written in February of last year from the account of Hoffman Motorsports.
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