New details are emerging in the case against Bul Auto, a luxury car dealership on Beach Boulevard, which abruptly shut down operations. Its owner, Vladimir Ranguelov, is now at the center of a multi-state investigation involving millions of dollars in alleged losses.

Two exotic car dealerships—Karma Automotive in Jacksonville, Florida, and Bul Auto Sales in Albany, New York—have unexpectedly ceased operations, leaving customers concerned about unpaid loans and potential fraud.

An ultra-luxury vehicle manufacturer, Karma Automotive, officially opened its first Jacksonville store on Thursday.