Published: Sunday, March 13, 2011, 6:50 PM    

Updated: Sunday, March 13, 2011, 6:50 PM

http://www.nj.com/news/index.ssf/2011/03/south_nj_man_who_admitted_to_1.html

MOUNT HOLLY — A southern New Jersey man who admitted scamming several investors who gave him money for bogus business and real estate deals has been sentenced to nearly six years in federal prison.

Fifty-two-year-old Martin Gevers of Burlington also must pay nearly $1.2 million in restitution. And he will have to serve three years of supervised release once he's freed.

Gevers had pleaded guilty last November to wire fraud and money laundering charges.

Prosecutors say he used phony documents that claimed his net worth was more than $14 million to scam about $1.5 million overall from 11 investors between November 2005 and December 2008. He then used the money for personal expenses.

Gevers told investors he couldn't his own assets because they had been frozen due to divorce proceedings.