Fluid Truck Accused of Stealing $11M From Vehicle Owners in Class Action
A vehicle rental platform allegedly sold owners’ trucks and vans at auction, then pocketed over $11 million in proceeds instead of paying the investors who entrusted their vehicles to the company.
Fluid Truck operated a vehicle investor platform where owners purchased fleets of cargo vans and trucks to rent out via the company’s app. When owners requested to decommission and sell their vehicles, Fluid Truck promised to sell them at auction and remit the proceeds. Instead, the company allegedly sold the vehicles and kept over $11 million belonging to more than 100 owners, using the money to fund its failing operations. After months of lies and delays, executives resigned but remained on the board, and the company admitted it has no intention of repaying the stolen funds.
This is what happens when venture-backed platforms treat investors’ life savings as a corporate slush fund.
The Allegations: A Breakdown
| 01 | Fluid Truck invited vehicle owners to participate in its Fluid Vehicle Investor Platform (FVIP), where owners purchased fleets of cargo vans and trucks to rent out via the company’s mobile app and website. The company managed all rental operations, including insurance, payments, and maintenance. | low |
| 02 | Fluid Truck promised in its decommissioning policy to sell vehicles on behalf of owners through a third-party auction service, deduct fees and repair costs, and remit the remaining proceeds to the vehicle owners. For a period of time, the company followed this policy and paid owners their proceeds. | low |
| 03 | Between February and June 2024, Fluid Truck sold fourteen vehicles owned by the plaintiff Urban Interests LLC, generating $415,325 in gross sale proceeds. Despite repeated requests, the company refused to remit any of these proceeds to Urban Interests. | high |
| 04 | The company knowingly misappropriated more than $11 million in sales proceeds belonging to over 100 vehicle owners, using these funds to support its failing business operations. This constitutes what the lawsuit describes as naked theft of the proceeds rightfully due to the owners. | critical |
| 05 | Fluid Truck openly and intentionally lied to vehicle owners about the status of paying the proceeds they were owed. After months of delays, deception, and obfuscation, the company finally admitted it was intentionally keeping the stolen funds. | high |
| 06 | In an August 21, 2024 email to FVIP participants, interim CEO Thomas Scott Avila admitted the company faces significant financial challenges and is still unable to process arrears payments, including insurance claim payouts and monies owed for vehicle sales. | high |
| 07 | According to Douglas Trussler, a partner with Bison Capital Asset Management (an investor in Fluid Truck), the company fully intends and is resolved to keep the sales proceeds stolen from vehicle owners. The plan is to place Fluid Truck into bankruptcy, invest $20 million into a separate entity called Kingbee Rentals, and have Kingbee buy Fluid Truck’s assets out of bankruptcy. | critical |
| 08 | Former CEO James Eberhard and former general counsel Jenifer Snyder allegedly masterminded this corrupt and widespread theft scheme. Both resigned as executives in July 2024 but remain on the board of directors. Current leadership and the board continue to perpetuate the same scheme and refuse to return the stolen funds. | critical |
| 01 | Fluid Truck used vehicle owners’ money as a slush fund to prop up its failing business. The company knowingly retained funds belonging to owners without authorization and intentionally misappropriated those funds to support its ongoing operations. | critical |
| 02 | The company’s actions were designed to permanently deprive vehicle owners of their rightful benefit from the sale proceeds. This was not a temporary cash flow problem but a deliberate strategy to steal money to keep the company afloat. | high |
| 03 | Fluid Truck’s decommissioning misrepresentations were made with the intent that owners would rely on those promises. The company knew its representations about turning proceeds over to owners were false when it made them. | high |
| 04 | The corrupt scheme proceeds as follows: First, Fluid Truck invited owners to allow it to sell vehicles on their behalf and promised to provide the proceeds. Then, in direct contravention of its express promises, the company elected to sell those vehicles and simply pocket the money. | critical |
| 01 | Vehicle owners entrusted their physical vehicle titles to Fluid Truck as part of the FVIP program. Without those titles, owners cannot prove ownership or recover their vehicles, leaving them completely dependent on the company’s honesty. | high |
| 02 | The lead plaintiff Urban Interests LLC purchased a fleet of 47 vehicles through the FVIP program starting in 2020. The company successfully decommissioned and sold 29 vehicles through Fluid Truck and received payment for those sales, establishing a pattern of trust. | medium |
| 03 | Urban Interests relied directly on Fluid Truck’s decommissioning policy when deciding to sell its remaining vehicles in late 2023 and early 2024. This reliance was justifiable based on the company’s prior performance and explicit written promises. | medium |
| 04 | Fluid Truck admitted in September 2024 emails that it owes $178,216 to Urban Interests for net sales and claims proceeds in connection with decommissioning. This represents only the net amount after fees, meaning the company has already deducted its own compensation before stealing the remainder. | high |
| 05 | The theft affects more than 100 FVIP owners across the country who requested decommissioning, had their vehicles sold, and have not been paid the sales proceeds and other amounts due from those sales. | high |
| 01 | In July 2024, understanding the exposure created by this illegal scheme, Fluid Truck removed James Eberhard and Jenifer Snyder as executives in what the lawsuit describes as a feint in the direction of leadership change. Both individuals remain on the board of directors. | high |
| 02 | On July 16, 2024, the board of directors, including Eberhard and Snyder, installed Thomas Scott Avila as interim CEO. Despite this supposed change in company leadership, Avila and the current management team have continued to perpetuate the same scheme to steal FVIP owners’ money. | high |
| 03 | The masterminds behind the corrupt and widespread theft scheme, Eberhard and Snyder, resigned as executives but somehow remain on the board of directors. Current leadership and the board continue to benefit from the ongoing theft scheme. | critical |
| 04 | Fluid Truck, Bison Capital, and other board members and investors know that Fluid Truck has stolen more than $11 million from FVIP owners. They intend to continue the scheme by gaming the system through a planned bankruptcy and asset sale to a separate company. | critical |
| 05 | The lawsuit alleges that other board members, executives, and investors beyond the named defendants have directed, approved of, sanctioned, actively participated in, or cooperated in the theft and conversion of vehicle owners’ property. | high |
| 01 | After selling vehicles, Fluid Truck subjected owners to months of delays, deception, and obfuscation about the status of payment. The company repeatedly made false promises while knowing it had no intention of paying. | high |
| 02 | The company openly and intentionally lied to owners about when or if they would ever be paid the proceeds from their vehicle sales. These lies were designed to delay legal action while the company continued to use the stolen funds. | high |
| 03 | In his August 2024 email, interim CEO Avila promised transparency and candor, stating the company is still unable to process arrears payments but expects that moving forward, payments will be made in a timely manner. This promise came after months of already failing to pay, undermining its credibility. | medium |
| 04 | The planned bankruptcy strategy represents the final delay tactic: by placing Fluid Truck into bankruptcy and transferring assets to a new entity, the company can potentially eliminate legal judgments against it while preserving value for insiders. | critical |
| 01 | Fluid Truck’s actions constitute civil theft and conversion of vehicle owners’ property, as well as unjust enrichment. The company sold property belonging to others and kept the money without authorization. | critical |
| 02 | The lawsuit seeks to recover all funds stolen by Fluid Truck, plus three times actual damages and attorneys’ fees under Colorado’s civil theft statute. It also seeks injunctive relief to prevent the company from continuing its unlawful scheme. | high |
| 03 | The case is brought under the Class Action Fairness Act with the amount in controversy exceeding $5 million, more than 100 class members, and diversity of citizenship between the plaintiff and defendant Avila. | low |
| 04 | Equity and good conscience demand that Fluid Truck pay over the proceeds from the sale of vehicles to the owners. The company’s refusal to do so, combined with its plan to evade responsibility through bankruptcy, represents a complete breakdown of corporate ethics. | high |
Timeline of Events
Direct Quotes from the Legal Record
“This is a proposed class action brought on behalf of all vehicle owners damaged by Fluid Truck’s broken promises and naked theft of the proceeds rightfully due and owing to Plaintiff and the class from the sales of vehicles owned by Plaintiff and the class.”
💡 The lawsuit explicitly characterizes Fluid Truck’s actions as naked theft, not a contractual dispute or business disagreement.
“Fluid Truck’s corrupt, unlawful, and unconscionable scheme proceeds as follows. First, Fluid Truck invited the vehicle owners on its vehicle-rental platform—including Plaintiff and the class—to allow Fluid Truck to sell vehicles on their behalf, and promised to provide the proceeds of those sales to those owners. Then, in direct contravention of its express promises to Plaintiff and the class, Fluid Truck elected to sell those same vehicles and simply pocket the money—knowingly misappropriating more than $11 million in sales proceeds for its own use.”
💡 This describes a classic bait-and-switch fraud: make promises to gain trust, then directly violate those promises for financial gain.
“Making matters worse, Fluid Truck then openly and intentionally lied to the owners about the status of paying those proceeds.”
💡 The company didn’t just fail to pay; it actively deceived owners about whether they would ever be paid, compounding the harm.
“The ‘masterminds’ behind this corrupt and widespread theft scheme are James Eberhard, Fluid Truck’s CEO, and Jenifer Snyder, his sister and general counsel, both of whom resigned as executives in July 2024, but still somehow remain on the board of directors. Despite Fluid Truck’s feint in the direction of leadership change, the company’s current leadership and board continue to perpetuate and benefit from the same ongoing theft scheme and refuse to return the stolen funds to Plaintiff and the class.”
💡 The alleged architects of the fraud resigned from management but retained board positions, allowing them to continue benefiting while appearing to step aside.
“Simply put, Fluid Truck is stealing from its vehicle owners to fund its ongoing operations—and effectively concedes as much.”
💡 The lawsuit states plainly that the company is using theft as a business model, not as a one-time mistake.
“In my initial communication, I promised transparency and open communication, so I want to be candid—we are facing significant financial challenges that we have yet to solve for [sic]. As a result, we are still unable to process arrears payments, including insurance claim payouts and monies owed for vehicle sales.”
💡 Interim CEO Avila’s own email confirms the company cannot and will not pay what it owes, despite promising future timely payments.
“Douglas Trussler, a partner with Bison Capital Asset Management, LLC (‘Bison Capital’), which is an investor in Fluid Truck, informed Urban Interests by telephone on October 2, 2024, and by email on October 3, 2024, that Fluid Truck fully intends and is resolved to keep the sales proceeds stolen from Urban Interests and other FVIP owners.”
💡 An insider at one of Fluid Truck’s own investors explicitly confirmed the company has decided to keep the stolen money rather than repay owners.
“To continue this scheme and prevent the repayment for Fluid Truck’s widespread theft, Fluid Truck, Bison Capital, and other investors intend to continue this scheme by gaming the system—their plan is to place Fluid Truck into bankruptcy, invest a portion of $20 million into Kingbee Rentals, and then have Kingbee Rentals buy Fluid Truck’s assets out of bankruptcy.”
💡 The company allegedly plans to use bankruptcy not for legitimate reorganization, but to evade paying back the money it stole.
“Fluid Truck has knowingly retained funds belonging to Urban Interests and other Class members without authorization, and has intentionally used and misappropriated Urban Interests and other Class members’ funds to support its failing business—doing so in a manner that will permanently deprive Urban Interests and other Class members of their rightful benefit of those same funds.”
💡 The lawsuit alleges Fluid Truck acted knowingly and intentionally, meeting the legal standard for theft rather than mere breach of contract.
“By launching and supervising the scheme to steal and keep the FVIP owners’ money, James Eberhard and Jenifer Snyder have directed, actively participated in, and cooperated in the theft and conversion of Urban Interests’ property and the property of other FVIP owners.”
💡 The lawsuit seeks to hold individual executives personally liable for directing the alleged theft, not just the corporate entities.
“By continuing the scheme to keep the FVIP owners’ money, Thomas Scott Avila has approved of, sanctioned, and cooperated in the theft and conversion of Urban Interests’ property and the property of other FVIP owners.”
💡 The new interim CEO is alleged to be just as culpable as his predecessors by choosing to perpetuate rather than end the theft.
“Equity and good conscience demand that Fluid Truck pay over the proceeds from the sale of the vehicles to Urban Interests and other Class members.”
💡 The lawsuit invokes equitable principles, arguing that basic fairness requires the company to pay what it owes regardless of legal technicalities.
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