A Tucson man has been sentenced to three years in federal prison for his role in an automobile loan fraud scheme.
Andrew May, 46, was sentenced Wednesday after previously pleading guilty to one count of conspiracy to commit mail fraud and bank fraud, prosecutors 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, they say.
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.
