A man convicted of conspiring to set fire to his Maryland business to collect insurance money has been sentenced to 15 years in federal prison.
The office of the U.S. Attorney in Maryland says 54-year-old Demetrios Stavrakis, of Lutherville-Timonium, was sentenced Wednesday. He was also ordered to forfeit more than $15 million.
Stavrakis was found guilty in October of malicious destruction of property by fire, use of fire to commit a federal felony and wire fraud.
Prosecutors alleged part of the insurance money was transferred to an account in the name of Stavrakis’s wife and was used to buy luxury cars, a motorcycle and jewelry.