'Property Wars' star pleads guilty to ID theft in Phoenix

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(Source: 3TV/CBS 5) (Source: 3TV/CBS 5)
PHOENIX (AP) -

 A former star on the "Property Wars" reality TV show has pleaded guilty to conspiracy to commit bank fraud and two other charges involving furniture stores he owns and operates in the Phoenix metro area.

Federal authorities say Scott Menaged also pleaded guilty Tuesday to aggravated identity theft and money laundry conspiracy.

[RELATED: 'Property Wars' star facing trial for wire fraud in Phoenix]

He's scheduled to be sentenced Dec. 27.

Prosecutors say Menaged could be facing at least a 10-year prison sentence and having to pay more than $2.1 million in restitution to banks.

Menaged was arrested in May in a case investigated by the Internal Revenue Service and the Department of Homeland Security.

Prosecutors say Menaged and three other defendants fabricated receipts of purchases at Furniture King stores and used the information of recently deceased people for bank credit applications.

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