Prosecutors said Romeo Pacifico, 44, of Adelaide changed his name to that of the U.S. rocker as part of his scheme to defraud finance companies out of millions of dollars to keep his business going while living a lavish lifestyle, The Australian reported Tuesday. The fraud took place from about 1998 to 2002, with Pacifico "robbing Peter to pay Paul," District Judge Wayne Chivell said.

"It was stealing and stealing on a grand scale," he said.

While Pacifico used some of the late loans to pay off earlier debts, the lenders wound up losing about $8 million, The Australian reported.

Pacifico, who must serve at least 10 years before becoming eligible for parole, pleaded guilty to 19 charges.