A Middletown Township, N.J., man was sentenced Wednesday to three years in prison for stealing money from his hedge fund clients and failing to pay taxes on his million-dollar salary, the U.S. attorney for New Jersey announced.

Peter Zuck had pleaded guilty to one count of conspiracy to commit wire fraud and to four counts of tax evasion. He and his partners, who are being prosecuted separately, diverted $4 million from the hedge fund and took $3.9 million in fees to which they were not entitled, the U.S. attorney says.

In addition, Zuck tried to avoid paying $273,000 in taxes on the $1.3 million salary he took by putting the money in a bank account in his son’s name.

Zuck was a co-founder of Osiris Partners LLC and Osiris Partners Fund Limited and a manager of both funds. Seventy-six investors were persuaded to put $12 million into the fund.

This is not the first time Zuck has been in trouble for his investment schemes, according to the Asbury Park Press. He previously pleaded guilty to three different incidents of securities fraud in 1994, 1997 and 2002, and served five years in prison for the 1994 conviction.