Volkswagen dealer: Biggest fraud I have ever seen

VW fraud makes Madoff look like minor leagues: NJ dealer

Steve Kalafer is furious. After 23 years selling Volkswagens at his dealership, Kalafer reckons he has never seen anything as bad as the on its clean diesel vehicles.

"This fraud makes Madoff look like the minor leagues," Kalafer said from his dealership in Flemington, New Jersey. "It is the biggest fraud I have ever seen in all of business. Over $300 billion of these products have been sold in Europe, $15 billion [in] the United States. That dwarfs Ponzi and Madoff combined."

Kalafer has found himself in an awkward position. He said he feels betrayed after spending millions of dollars buying diesel Volkswagens in the belief they were clean-burning and highly fuel efficient. At the same time, he's the focus of anger from customers who bought those VWs from him.