I have been a victim to identity theft?

a person asked me to open a auction card so he can bid on cars for his family. he tells i dont have to worry about paying any money to anyone and hes going to take full responsibility for everything and i got that in writing from him and he signed it. so i trusted him and opened it. this happened in 2006 and now in 2008 i went in to the auction place to check my account activity, i found i that i owe the company $230K for bidding on cars and not taking them off the lot. and the company tells me if i dont start making payments they going send it to collections. the person that bid on the cars was not me and it was not the authorized buyer but is his brother. they have been doing this to other people someone else owes $500K. im suing them and the auction company for identity theft because it was not me or the authorized buyer that bid on all those cars. how much money can i get out of that since the amounts are high $230K and $500K?

actually i did speak to a attorney and I AM a victim to identity theft because i only gave my info to the auction company and no one else. and its the companys job to make sure whos bidding on the cars and not just any body. what the scammers would do is give like $100 to the gate person so he/she could let them in and bid on cars under other peoples accounts. the auction place got video servaliance showing its not me or the authorized buyer but someone else.

You'll probably be able to settle for pennies on the dollar, depending upon your ability to pay. After all, they still have the cars. I expect that you may get out from under that mess for $10,000 or less, plus legal fees.

Sue *them*? Yeah, right. Good luck finding a lawyer to take that one. Instead you should be getting ready for the collections company to sue *you*. You're the idiot that knowingly and willingly let someone else use your credit. You aren't a victim of identity theft, you literally GAVE YOUR IDENTITY TO SOMEONE ELSE!

In as much as you "opened an auction card", which I will infer to mean that you SIGNED an AGREEMENT, the you may have an obligation to the holder of the agreement. The first issue is exactly what did this agreement say that you signed. If you were not insane, under the influence of drugs, or under the age of majority, your options may be limited. You may want to take the agreement to an attorney and get a professional opinion. You have not given enough information for any accurate assessment. If you signed the agreement voluntarily, you have not been a victim of identity theft. Looks to me like the auction house was victimized by YOUR FRAUD.