Gatta Sentenced for Alleged Jersey Shore Ponzi Scheme
It looks like authorities may have uncovered a real Jersey Shore "Situation."
Well-known humanitarian and former partner of one of the state's biggest insurance agencies, C. Gavin Gatta, Jr., has been sentenced to four years in prison connected with financial fraud accusations.
The 48-year-old was a prominent resident of Ocean Township, NJ. Community members say that he was a fixture in all the local social circles, pledging thousands to Jersey Shore University Medical Center in Neptune and fundraising tirelessly on behalf of organizations like Interfaith Neighbors in Asbury Park.
Gatta's accusers state that this magnetic and magnanimous personality was merely a mirage.
Prosecutors alleged during trial that Gatta pilfered more than $20 million meant to pay client premiums for his personal use.
For sentencing purposes, Gatta admitted that he used the money to buy a veritable fleet of opulent automobiles, including several Ferraris, a Porsche, a Mercedes, and an Aston Martin.
Gatta made the following statement upon hearing his sentence: "I want to apologize to my loving wife and two beautiful boys for the hell I put them through because of my disgraceful conduct.''