A Tucson man has been sentenced to three years in federal prison for his role in an automobile loan fraud scheme.
Prosecutors say 46-year-old Andrew May was sentenced Wednesday after previously pleading guilty to one count of conspiracy to commit mail fraud and bank fraud.
They say May and his co-conspirators fraudulently represented to lenders that they were engaged in the legitimate purchase and sale of vehicles in order to obtain financing from numerous institutions.
The co-conspirators also fraudulently represented that the lenders would receive a lien on the vehicles as collateral for the loans.
However, prosecutors say no legitimate vehicle sales occurred.
The lenders funded about $1.2 million traced to numerous bank accounts controlled by May.
A restitution hearing is scheduled Nov. 19 in U.S. District Court in Tucson.
Copyright 2018 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
houstondwiPhotos mp, www.houstondwiattorney.net
Posted
and last updated
Copyright 2018 Scripps Media, Inc. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Sign up for our Morning E-mail Newsletter to receive the latest headlines in your inbox.
