A marble dealer who pleaded guilty to federal fraud charges in March has been sentenced to more than 11 years in prison and ordered to pay restitution of more than $9.1 million.
The U.S. attorney’s office said yesterday that Judge William Sessions III issued the sentence against 51-year-old John Byors of Essex Junction, who had pleaded guilty to 16 counts of mail, wire, bank and travel fraud and money laundering.
Byors was accused of raising more than $10 million from about 100 investors, for various marble ventures, but repaying only 16 investors. Authorities say he spent most of the money on personal items.
Court documents say the 62 remaining investors lost between $20,000 and $823,000.