U.S. Attorney for the Middle District of Tennessee Braden Boucek announced federal prison sentences for the former owner of Nashville-based Auto Masters, Mark Janbakhsh, his brother, Ron, and two former employees, Steven Piper and Christian Quiroz.

The group was charged with and convicted of fraud and conspiracy to commit fraud. Prosecutors say they tricked Capital One and First Horizon Bank (then First Tennessee Bank) into advancing more than $24 million in unearned credit by systematically overstating the value of Auto Masters-owned units.

“The reason for committing this fraud scheme was simple: Mark Janbakhsh wanted access to additional money to pay for his lifestyle and his other business ventures (as did his brother Ron),” states a press release from Boucek’s office. “Mark Janbakhsh lived a lavish lifestyle — he and his wife drove luxury cars (including a Bentley and Ferrari) and his family took expensive vacations, including to places like Dubai.”

Mark Janbakhsh faced up to 30 years in prison but received a 42-month sentence. He was acquitted on a separate charge of witness tampering. Prosecutors accused him of offering Quiroz $300,000 to leave Tennessee to derail their investigation.

Ron Janbakhsh and Piper were sentenced to 12 months in prison and Quiroz will serve six months. Mark Janbakhsh, Piper and Quiroz owe $11.3 million in restitution and Ron Janbakhsh owes $4.2 million in restitution.

Read more at DOJ.gov