Former Billabong head honcho Matthew Perrin will serve eight years jail time for over 12 counts of fraud.
The sentence was delivered in the District Court in Brisbane on Friday.
Perrin will be housed at Brisbane’s Arthur Gorrie Correctional Centre, with a non-parole period of four years.
Perrin was found guilty of forging his ex-wife's signature to defraud the Commonwealth Bank of $13.5 million.
It was alleged he committed fraud to bolster a line of credit from Commonwealth Bank from $3 million to $5 million in 2008.
He also increased a business loan of $10 million.
Perrin had pleaded not guilty to the charges which include fraud, forging a document and dishonestly gaining benefit to an amount over $30,000.
Perrin became a multi-millionaire at the age of 28, when surfwear brand Billabong was floated on the stock market.
He declared bankruptcy a decade later after a failed business venture in China.