(Photo: Scott Menaged/Twitter)” width=”400″ height=”400″ />
PHOENIX — A former star on the “Property Wars” reality TV show has been sentenced to 17 years in federal prison in Arizona for bank fraud, money laundering and aggravated identity theft.
Scott Menaged also was ordered Tuesday to pay more than $33 million in restitution to banks and more than 200 investors.
The 40-year-old Menaged pleaded guilty in the case in October.
Menaged owned and operated furniture stores in the Phoenix metro area and a real estate investment business.
He was arrested in May for allegedly embezzling millions of dollars in loans meant for real estate purchases and providing fake purchase documents to conceal the fraud.
Prosecutors say Menaged was accused of fabricating receipts of furniture store purchases and using the information of recently deceased people for bank credit applications.