HARTFORD, Conn. (AP) – A businessman convicted as part of the biggest real estate fraud in state history has surrendered his real estate license just three months after it was reinstated.

Jonathan Googel and business partner Benjamin Sisti built up a $2 billion real estate empire that collapsed in 1990, costing over 6,000 investors more than $300 million.

Googel, 62, was sentenced to seven years in prison in exchange for his cooperation in the FBI investigation.

He received a real estate license in December – five years after his prison release. Officials with the Department of Consumer Protection said they received a letter Monday indicating he was voluntarily relinquishing that license.

The state Real Estate Commission had voted 3-2 to reinstate Googel’s license with several conditions. Since winning his license, he had been working for Norman Ltd. Realty in Watertown. A message seeking comment was left there Monday.

Colonial collapsed in 1990 due to a downturn in the real estate market and widespread fraud. Twelve people were convicted in the scandal. Chief Financial Officer Frank Shuch committed suicide in 1992 after being accused of embezzling $15 million.

AP-ES-03-07-05 1447EST