Wyatts Towing CEO Trevor Forbes has resigned from Colorado's Towing Task Force amid a state investigation into his businesses and accusations of running an illegal loan program for towed vehicles.
His resignation was effective July 17, a spokesperson for Gov. Jared Polis told The Denver Post. Forbes' name also has been removed from the task force's website.
The task force, which Forbes chaired, is responsible for making recommendations to the Public Utilities Commission about maximum towing rates and nonconsensual tows. The 14-person group is comprised of members of the towing industry, consumer advocates, law enforcement officials and other stakeholders.
Forbes and Wyatts, the state's largest towing company, have been under the microscope since last summer when The Post revealed that the attorney general had launched a probe into the business. That investigation is ongoing.
Recently, lawmakers and consumer advocates have accused the towing giant of skirting a 2022 law designed to make it easier for people to retrieve their cars after being towed. Loan documents and video shared with The Post last month show Wyatts has required people to apply for loans with interest in order to get their cars back — a practice the attorney general's office said clearly goes against the letter and intent of the law.
That law, HB22-1314, states you only need to pay 15% or $60 upfront, whichever is lower, and the tow yard must return your vehicle. Drivers still owe the balance, but can pay it over time.
Forbes did not respond to calls and emails seeking comment on his resignation. The governor's office did not respond when asked why Forbes resigned.
In public meetings before the PUC and state lawmakers, Forbes called the new law confusing. His company never intended to circumvent the latest provisions, he said, maintaining that they didn't deny anyone a loan or charge interest.
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