A businessman found guilty of attempting a nearly $200,000 insurance fraud by lying about who crashed his Lamborghini car has been sentenced.

Hospitality entrepreneur John Fiotakis narrowly avoided jail on Friday after a jury found him guilty earlier this year on one count of attempting to dishonestly acquire a financial advantage.

The case centred around Fiotakis' false claim that he was at the wheel of his Lamborghini Gallardo when it crashed six years ago.

Prosecutors alleged during the June trial that Fiotakis' son, Spiro, was the driver.

Fiotakis submitted the false insurance claim because the massive payout would have been voided by his son's involvement in the crash, prosecutors alleged.

The vehicle rammed into a tree and then caught fire near Seven Mile Beach on May 29, 2019.

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