DOW JONES NEWSWIRES A federal judge sentenced the owner of a New York auto-repair business to 41 months in prison after he was found guilty of defrauding four banks of about $1 million. Jersey City, N.J. resident Syed Rehman, 45, admitted in November to paying a Social Security Administration employee for numbers that co-conspirators used to open bank accounts and get new credit cards and mortgage loans. Two arms of J.P. Morgan Chase & Co. (JPM), Bank of America Corp. (BAC) and Citigroup Inc. (C) lost more than $1 million in the scheme, according to the U.S. Department of Justice. Along with the prison term, U.S. District Judge Jose L. Linares sentenced Rehman to five years of supervised release. Rehman will also pay an as-yet undetermined amount of restitution. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; andrew.fitzgerald@dowjones.com
