NJ Man Gets Nearly 6 Years In Federal Prison For Bilking Investor Out Of More Than $1M In Phony Pizzeria Scheme

CAMDEN, N.J. (CBSNewYork/AP) - A New Jersey man convicted of bilking an investor out of more than $1 million in a phony pizzeria scheme has been sentenced to nearly six years in federal prison.

Giovanni Arena of Laurel Springs also will have to serve three years of supervised release once he's released from prison. The sentence imposed Wednesday also mandates that he pay $1,219,200 in restitution and forfeit assets he bought with the money he took, including two luxury automobiles.

WEB EXTRA: Read the indictment

A federal jury had convicted Arena in November 2013 on numerous counts, including mail fraud, money laundering and tampering with a witness.

Federal prosecutors say the 58-year-old Arena enticed the victim to send money to invest in the purchase of a pizza shop. But Arena instead spent the cash on personal expenses and gambled away hundreds of thousands of dollars at Atlantic City casinos.

You Might Also Be Interested In:

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)