Tyler Businessman Sent To Prison

Tim Beverley ignored the camera as he walked into federal court today. What couldn't be ignored was the fact he'd be sentenced to prison. "He understood. I think he understood that he was going to be punished," says his attorney Gerry Goldstein.

He could have received as much as 10 years, but the judged handed down a six year sentence with three years probation. "He took his punishment in the same vain that he lived his life, in respect for the court and respect for the law that he's violated," says Goldstein.

Beverley had major success as owner of Tyler Jet. He told the judge today that financial problems began after investing in NASCAR. His company declared bankruptcy and Beverley admitted to the court that his bout with drugs and alcohol and personal problems caused him to make careless business decisions.

"Mr. Beverley [is] very sorry for what happened and I'm sure that his family would join him in wishing well all those people who were affected." Beverly will have to pay back those he defrauded more than 18 million dollars in restitution.

He told the judge he's ready to move on with his life, which will be very different when he begins his prison sentence.

Christine Nelson reporting. cnelson@kltv.com