An online car dealer has been snared placing thousands of fake bids on more than 500 of its own auctions.
The Auto Co (Millennium) Ltd pilfered more than $100,000 from Trade Me users in a year by "shill bidding" on $1 reserve auctions.
The company was the biggest motor trader on the site at the time and the case is the largest of its kind in New Zealand.
The scam came undone after a buyer complained about the Auckland-based trader.
Trade Me's trust and safety manager, Jon Duffy, said The Auto Co's scheme was sophisticated "and they were covering their tracks pretty well. Our normal detection…