MARCH 31, 2011, 2:25 P.M. ET

http://online.wsj.com/article/AP7b6619627d20467897634f067e08ac9c.html

NEWARK, N.J. — A northern New Jersey real estate developer considered a key figure in New Jersey's largest corruption bust has been sentenced to nearly 3 1/2 years in federal prison.

Moshe "Michael" Altman previously pleaded guilty to extortion and money laundering conspiracy. On Thursday he received a 41-month sentence.

Prosecutors say the 41-year-old Monsey, N.Y. resident laundered more than $100,000 for a government informant from what he believed were proceeds from illegal ventures. They also say he arranged a $20,000 cash bribe from the informant to a public official in Jersey City.

That bribe was considered the connection between the money laundering and public corruption branches of the government sting.

The investigation culminated in more than 40 arrests in July 2009. More than half the defendants have pleaded guilty.