A Vancouver fraudster who used fake credit cards to acquire seven luxury vehicles and a power boat has been denied bail pending his appeal.

Kamyar Andrew Jahanrakhshan, 32, was found guilty on 40 criminal counts relating to credit-card fraud as well as obstructing a police investigation. He'd bought seven high-end cars - three BMWs, two Mercedes Benzes, a Cadillac Escalade and a Lexus - and one boat from dealerships between December 2007 and June 2008.

The merchandise was valued at close to $500,000 and was bought using credit cards issued by foreign banks. Five of the vehicles and the boat were recovered.

During the investigation, Jahanrakhshan, posing as an RCMP officer, contacted the foreign banks he was accused of defrauding and persuaded them to fax him copies of their affidavits that would later be used in his fraud trial.

Jahanrakhshan was sentenced to four years in prison and ordered to make restitution of about $220,000 to various financial institutions that had suffered losses.

kfraser@theprovince.com