PORTLAND, Ore. (KTVZ) — A Portland man was sentenced to federal prison Tuesday for using a Bend residential property he did not own as collateral to obtain a bank loan worth more than $316,000, prosecutors said.

Alireza Zamanizadeh, aka Ali Zamani, 63, was sentenced to 18 months in federal prison and five years’ supervised release. The court also ordered Zamanizadeh to pay $400,000 in restitution to the owner of the property.

According to court documents, on or about Feb. 17, 2017, Zamanizadeh filed a quitclaim deed in Deschutes County, transferring a residential property on Northeast Telima Lane in Bend to his business for $1 without the property owner’s consent. A quitclaim deed is a document used to quickly transfer the ownership of real property from one party to another.

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Portland man gets 18-month federal prison term for bank fraud scheme involving NE Bend property