Nashville car dealership owner convicted of fraudulently obtaining $24.6 million
Nashvılle, Tenn. (WKRN) – Brentwood man, the majority and majority of the Nashville automobile dealer, was convicted of several federal fraud charges.
According to A Press release The US Department of Justice sentenced a federal jury to 49 -year -old Mark Janbakhsh, a bank fraud, to make a wrong statement to a bank, to make a false statement to a bank, to make a wrong statement under bankruptcy fraud and oath.
Janbakhsh, as the CEO of Auto Masters in Nashville, also served as a majority ownership of the automobile dealer, according to the hearing evidence. According to the authorities, between 2013 and 2017, the dealership had a loan line with the First Tennessee Bank, known as Capital One and First Horizon Bank.
October 2022 | 2 million dollars of bank fraud planned 2
During the hearing, the evidence revealed that Janbakhsh’s brother Ron Janbakhsh and others in the company, according to Doj, will allow the Company’s collateral to artificially inflate the value of the collateral, otherwise it will allow the wrong documents that it would not be entitled to receive the credit lines.
Bank auditors began to investigate the financial inconsistencies in automobile masters’ shipments, and then it turned out that Janbakhsh’s employees have directed data, e -mails and other information to delete the fraudulent activity.
In 2017, Auto Masters announced bankruptcy. During the bankruptcy procedures, according to the proofs on trial, Janbakhsh lied about fraud while under the oath.
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Janbakhsh later learned that federal agents, who investigated the fraud, wanted to talk to the common conspiracies, and offered $ 300,000 to leave the region to avoid interviewing by the interviewers by trial evidence.
Authorities said that Janbakhsh will be sentenced to imprisonment this year, and for a maximum of 30 years of federal imprisonment and a maximum fine of $ 1 million. When Janbakhsh is convicted, a federal judge will also consider losing his property.
McGuire said, “Our office will violently follow special fraudsters such as the defendant who lies and cheating for their own earnings and we are not afraid to make our case responsible for their crimes,” he said. “I praise the prosecutors and federal agents who have spent years to reveal this plan, enlighten it and achieve a fair result for our community.”
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