A circuit judge in St. Louis sentenced the former head of US Fidelis, Darain Atkinson, to eight years in prison on state charges Monday.
The sentence will run concurrently with a federal sentence that included an order for the company's former president and co-founder to pay $4.5 million in overdue taxes, the St. Louis Post-Dispatch reported.
Judge Jon Cunningham said he had spent part of the weekend reading statements from victims in the case.
"Some of these people were retired or disabled. They talked about their economic situations and how the one thing they needed was a car that would run," Cunningham said at the sentencing.
"Your bad actions, your greed, caused all this difficulty," he said.
The company, which was previously known as National Auto Warranty Services, sold auto repair warranties. It failed in 2009, and Atkinson and his brother Cory were accused of stealing more than $100 million.
The company was also charged with misleading customers.
Cory Atkinson received a sentence of 40 months on federal charges and was ordered to pay $4.49 million in overdue taxes. On state charges, he was given a sentence of four years.