A former co-owner of a used car dealership, who was on the run in Iran for more than seven years, admitted in U.S. District Court in Norfolk, Va., Monday that he faked 61 Navy Federal Credit Union car loans worth more than $1.1 million.
Andysheh Ayatollahi, the former co-owner of the Car Store in Virginia Beach, Va., pleaded guilty to one felony count of conspiracy to commit financial fraud and one felony count of submitting a false federal tax return.
Although the fraud scheme occurred from July 2007 to May 2008, Ayatollahi was not arraigned on charges until January because he fled the country in 2008 for Iran. Officials said they are not sure why Ayatollahi, an American citizen who is of Iranian decent, returned to the U.S.
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