Former Auto Masters owner Mark Janbakhsh could spend 30 years in federal prison after being convicted on charges of conspiring with his brother, Ron, to commit bank fraud, as well as bankruptcy fraud and making false statements to a bank and under oath.

A press release from the office of the United States Attorney’s Office for the Middle District of Tennessee says the brothers defrauded Capital One and First Horizon Bank (then First Tennessee Bank) of approximately $26.4 million by drawing on lines of credit to which they were not entitled.
Janbakhsh was acquitted on an additional charge of witness tampering.

Prosecution evidence proves the conspirators presented bank documents doctored to exaggerate the value of Auto Masters’ inventory, writes Acting U.S. Attorney Robert E. McGuire in the release.

“Our office will vigorously pursue dedicated fraudsters like the defendant who lie and cheat for their own gain, and we’re not afraid to make our case to a jury to hold them accountable for their crimes. I commend the prosecutors and the federal agents who spent years uncovering this scheme, bringing it to light, and achieving a just result for our community.”

Read more at DOJ.gov