DES MOINES, Iowa (The Des Moines Register) — A well-known Des Moines real estate developer has pleaded guilty to fraud charges involving the drastic underreporting of the amount he paid for several cars to save himself in registration fees. The Des Moines Register reports that 57-year-old Jeff Young entered written guilty pleas on Friday to five counts of third-degree fraud, an aggravated misdemeanor, and has agreed to pay more than $32,000 in restitution and fees.

The Iowa Department of Transportation says Young underreported the value of five vehicles he bought by a combined $309,400 between May 2017 and September 2019, saving himself $15,500 in registration fees.