Mawhinney used the loans "to pay for travel, entertainment and a luxury tour bus that cost well over $750,000," the prosecutor's office said.

If convicted, Mawhinney faces up to 30 years in prison. He will be arraigned February 11. He lives in the luxury WaterMarke Tower in downtown Los Angeles, authorities said.

In the related case involving Mawhinney's two associates, Matthew Salazar, 29, of Valley Village, California, and his brother, Jason Salazar, 28, who has California addresses in Grover Beach and Fresno, have agreed to plead guilty, authorities said.

The brothers own Matt Salazar Recording Productions of Burbank, California, and are part owners of LA Sound Gallery, also in Burbank, authorities said.

"They admitted in court documents that they provided false documents to Bank of America, Greystone Bank and Huntington National Bank to obtain about $1.7 million in loans for their music business," the prosecutor's office said.

If they plead guilty, each brother would face up to five years in federal prison, the prosecutor's office said.

Their Los Angeles attorney, Mark Werksman, said the brothers have been cooperating with federal investigators and will enter guilty pleas "sometime in the near future."

"They committed these offenses at the direction of Mr. Mawhinney," Werksman said.