SEATTLE (AP) - A Bellevue man who financed a lavish lifestyle through a fraudulent cellphone shipping scheme has been sentenced to five years in prison.
Seattle U.S. Attorney Annette Hayes says 27-year-old Maziar Rezakhani's deception resulted in more than $3 million in losses to a small bank, Apple Inc. and shipping companies.
Federal prosecutors say Rezakhani repeatedly ordered thousands of Apple iPhones and claimed they had been stolen during shipment. He claimed the cellphones were stolen and replaced by tiles or pumice brick. Evidence showed that Rezakhani bought the tiles and bricks at local stores.
Prosecutors say he also submitted false tax and bank records to get a multi-million line of credit at Bellevue's Foundation Bank. He took out $6.5 million in loans, using some pay for a penthouse and luxury cars. He defaulted on $2.8 million, and the small bank was sold.
In July, Rezakhani pleaded guilty to mail fraud, bank fraud and filing a false income tax return.
Rezakhani used all the money he schemed to fund a luxurious lifestyle of luxury cars including two Ferraris, a Mercedes and Range Rover. He also leased a luxury penthouse at the cost of $26,265/month and claimed that he was earning a 7-figure income.
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