A Miami man has been arrested after authorities say he fraudulently purchased more than a dozen high-end vehicles and personal watercraft worth nearly $700,000 in an alleged “credit bust out” scheme.
Cristian Machado, 31, was taken into custody Monday on 14 counts of grand theft, 14 counts of obtaining a vehicle by trick, and one count of organized fraud of $50,000 or more, according to court records.
The arrest followed an investigation by the Miami-Dade Sheriff’s Office Auto Theft Crimes Task Force, which discovered that between June 4 and June 15, 2024, multiple vehicles were registered to Machado through different lenders. Investigators said the activity pointed to a “credit bust out,” a fraud tactic in which suspects buy numerous vehicles in a short span before purchases appear on their credit reports or manipulate their credit history to conceal negative activity.
Authorities say those vehicles are often illegally subleased on the black market or retitled in other states.
In credit applications, Machado allegedly misrepresented his finances, claiming an annual salary of $270,000. Among the purchases were a 2023 Dodge Challenger and 2023 Dodge Charger from Kendall Dodge Chrysler Jeep Ram.
The investigation revealed Machado obtained $698,156 worth of vehicles and watercraft, including:
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2024 Hyundai Genesis – $81,764
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2024 Jeep Gladiator – $41,490
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2024 BMW 740i – $97,300
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2024 Cadillac Escalade – $75,990
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2024 Ford Mustang GT – $45,900
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2023 Dodge Charger GT – $30,990
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2023 Dodge Challenger Hellcat – $78,990
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2024 Mercedes E450 – $62,198
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2024 Mazda CX90 – $39,750
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2024 Chevrolet Corvette – $77,989
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2024 Kia EV6 GT Line – $32,298
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2024 Yamaha Waverunner – $8,499
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Two 2024 Sea-Doo Bombardiers – $12,499 each
Machado was booked into jail Monday and appeared in court Tuesday, where a judge appointed him a public defender and granted bond.
