BRIDGEPORT, Conn. (AP) _ A New York City man has been sentenced to five years in prison for his role in a ``boiler room'' scheme that scammed $3.6 million from people who invested in a bogus ATM management business.

Igor Malyar of Staten Island was sentenced Tuesday in U.S. District Court in Bridgeport for the part he played in defrauding about 275 people, including some Connecticut residents.

The 35-year-old Malyar pleaded guilty in 2005 to securities fraud and conspiracy to commit mail, wire or securities fraud.

Federal prosecutors say Malyar and others sold fake stock for a nonexistent company, Cash Money Lending Corp., then kept the money.

Defense attorney Bruce Koffsky says Malyar apologized, deposited money with court officials toward restitution and will ``go to whatever lengths it takes'' to repay the victims in full when he leaves prison.

(Copyright 2008 by The Associated Press. All Rights Reserved.)