SEATTLE — A 27-year-old Bellevue, Washington, man has been sentenced to five years in prison in connection with a scheme to defraud Cupertino-based Apple Inc., a small bank and various shippers of more than $3 million, according to the U.S. Attorney’s Office.

Prosecutors said Maziar Rezakhani used the ill-gotten gains to finance luxury vehicles, including a pair of Ferraris, and rent a $25,000-per-month penthouse in a skyscraper.

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“This defendant could have had all the cars and fancy apartments he wanted by running an honest and successful business,” she continued. “Instead, he deceived everyone in his path, resulting in more than $3 million of loss and a lot of innocent bank employees losing their jobs.”

In September 2014, Rezakhani, who ran a business reselling iPhones overseas, ordered 1,280 of the devices from Apple and paid for them by charging some of the cost to four credit cards. When they arrived, he replaced the iPhones with similarly-sized glass tiles and claimed the actual devices had been stolen in transit, according to prosecutors.

Apple refused to give Rezakhani a refund, but he managed to convince three of the four credit card companies to reverse the charges, making Apple responsible for $342,710. Prosecutors said Rezakhani then used the stolen iPhones in his reselling business.

Rezakhani also submitted falsified tax and bank records to Bellevue-based Foundation Bank to obtain a multi-million dollar line of credit in April 2015, according to prosecutors. The $6.5 million he ended up withdrawing was used in part to finance a Ferrari 458 Speciale, lease a penthouse at The Bravern and pay off more than $400,000 in credit card debt.

The bank advised Rezakhani it had discovered fraud in his loan application, and if he did not repay the bank in July 2015, he would be in default, according to court documents. To get the $3 million he needed, Rezakhani hatched a second scheme, this time targeting FedEx Corp. and Pacific Atlantic Freight LLC, an insurance company.

Rezakhani shipped 116 boxes he said contained $5 million worth of iPhones to an address in Delaware. The boxes actually contained pumice blocks, and he again tried to collect on an insurance claim, according to prosecutors. But the shipper and the insurer refused to pay.

Prosecutors said Rezakhani even complained to the FBI, the Federal Trade Commission and the California Department of Insurance in an attempt to get them to pay up.

After Rezakhani defaulted on the loan, Foundation Bank was sold and employees lost their jobs, according to prosecutors.

Authorities arrested Rezakhani in October 2015.

Handed down Monday by U.S. District Court Judge James Robart, the 63-month sentence follows Rezakhani’s guilty plea last July to two counts of mail fraud, one count of bank fraud and one count of filing a false income tax return, according to prosecutors.

Rezakhani also was ordered to pay more than $3.5 million in restitution as well as forfeit $100,000 in cash and the luxury vehicles. He could face additional financial penalties for underreporting his income from 2009-12.