The company did not respond to a detailed list of questions shared by Forbes.Ĭarvana, a pandemic darling, had a market capitalization of $60 billion in July 2021, thanks to investor exuberance and a strong used car market. Carvana has not been accused of any wrongdoing in connection with HyperSport. Forbes could not confirm the identities of HyperSport’s ultimate beneficial owners.įorbes found no evidence that Carvana, its C-Suite or its controlling shareholder Ernest Garcia II knew about the allegations by former Carvana employees cited in this article. In a statement provided to Forbes in February by HyperSport’s outside counsel after Forbes first contacted HyperSport about the allegations made by former Carvana employees, a company spokesperson wrote: “HyperSport has never defrauded, or sought to defraud, Carvana or any other company with which HyperSport transacts business,” and that HyperSport “has not provided any pecuniary benefit to… any Carvana employees to influence contract awards,” and that, “Carvana auditors routinely review and inspect HyperSport’s invoicing system to ensure the accuracy of HyperSport’s billings.” HyperSport also denied that Daniel Serna “ever possessed an equity interest in HyperSport.” Jose and Daniel Serna did not respond to repeated requests for comment. HyperSport did not respond to a detailed list of questions shared by Forbes earlier this week. Government loan data also shows that HyperSport took out a loan in 2020 through a residential address in Colorado owned by two individuals named Daniel Garcia Serna and Victor Garcia Serna. Public filings show that an individual named Jose Alejandro Garcia Serna, who has an apparent brother named Daniel Garcia Serna, helped set up HyperSport. “It didn't make sense.”Īll those who spoke with Forbes named Daniel Serna, Carvana’s former director of inspection center development and expansion, as someone they suspected was involved. “We had a feeling that someone was getting a kickback out of this,” says Cabrera, who left Carvana last year. They also allege that HyperSport was controlled by a Carvana manager or his associates–and that as a result, HyperSport was incentivized to push through duplicate invoices to Carvana and skimp on buying its own supplies. These employees – most of whom spoke with Forbes on the condition of anonymity – say that HyperSport employees were often underqualified to do the work that Carvana was paying them to do. From 2017 until at least last year, HyperSport technicians worked alongside Carvana technicians at over a dozen Carvana inspection and reconditioning centers (known as “IRCs”), according to eight former Carvana employees, who worked as managers, technicians and inventory coordinators across the company’s facilities. But the two firms are linked, a Forbes investigation finds. Carvana has never mentioned HyperSport in any public filings or statements.
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