The SEC has barred a former investment advisor in Virginia who was sentenced to 13 years in prison in February for running a $5 million Ponzi scheme, the regulator says.

Edward Lee Moody Jr. had admitted to using money from 53 investors to pay earlier investors and cover his own expenses, including shopping, travel and a house.

In last week’s settlement with the SEC, the regulator permanently barred Moody and enjoined him and his wholly-owned investment adviser firm, CM Capital Management, from violating anti-fraud provisions, the SEC says in a litigation release.

In addition to the bar, Moody also agreed to pay $3,025,067 in disgorgement plus prejudgment interest of $32,181, according to the regulator.