Hosking said it wasn't until he was contacted by police that he became aware a man he did not know was claiming to own the Audi.
It was only when the man tried to use the car in a financial transaction that the alleged fraud was uncovered.
The man was arrested yesterday and will face a charge of providing a false statement to police. He is due to appear in court next week.
The car that appeared on the television show has since been sold.
Hosking said it raised personal security issues regarding changing vehicle ownership.
Nothing stopped anyone getting people's details and using number plates and passing it off as their own, he said.