Calabasas Lamborghini Dealer Pleads Guilty

Viken Keuylian (right), who owned Lamborghini of Calabasas, pleaded guilty to wire fraud in stealing $12 million from the finance company that fronted him the cash for his car inventory.

Keuylian, 45, had early said that he would plead guilty and did so in the U.S. District Court in Santa Ana to one count of wire fraud.

Sentencing is scheduled for September 28 and he could face up to 30 years in prison and a $1 million fine.

Keuylian remains free on $10,000 bond.

According to his plea agreement, Keuylian sold about 5 percent of all the Lamborghinis in the world in 2008, including 54 during a two-week period last October as he tried to pay off debts.