Van Den Heuvel was convicted previously of conspiracy to commit bank fraud for arranging an illegal loan from Horicon Bank for his business, Green Box. He was sentenced to three years in prison in that case.

After that, federal prosecutors filed 14 additional counts against Van Den Heuvel, alleging he raised more than $9 million from investors - including the Wisconsin Economic Development Corp. - but used some of the money on personal items, including a car and Packers tickets.

Earlier in the week, Van Den Heuvel agreed to plead guilty to a count of wire fraud - a plea which was accepted Friday - and the other 13 counts were dismissed. Sentencing is scheduled for Dec. 10.

Although the maximum sentence could be a 20-year prison term, prosecutors have agreed to ask for no more than 7.5 years in prison. Van Den Heuvel can argue for whatever he sentence he wants. The judge is not bound by any of the recommendations. Van Den Heuvel also agrees to pay restitution of at least $9,389,440, the plea deal states.

On Thursday, he acknowledged he misused more than $9 million invested in his Green Box businesses, but insisted the underlying business remains viable.

Van Den Heuvel called a newspaper on Thursday from the Brown County Jail. In two calls, the 65-year-old admitted he misled investors about how their money would be used and used some of the money for personal expenses..

"The government is right on the $9 million listed," he said. "I treated it like the other money from family, friends and investors for business and development use. We put specific uses on those investments and I didn't pay attention."

According to court documents, Van Den Heuvel told investors the money would be used for specific pieces of machinery, but he instead used the money for other business expenses and legal fees, and for a variety of personal expenses that included Green Bay Packers tickets, cash and a new SUV.

His victims include the Wisconsin Economic Development Corp., a Montreal-based investment firm and a Green Bay-area doctor.

"I did wrong," Van Den Heuvel said Thursday. "I misappropriated funds and I gave out misleading information. I'll have to do some time for that, but I don't deserve a life sentence."

The first three years of the prison sentence would be served at the same time as a three-year sentence for bank fraud connected to his use of straw borrowers to obtain loans from Horicon Bank.

Van Den Heuvel has been jailed since July, when federal prosecutors told U.S. District Court Judge William Griesbach that Van Den Heuvel had continued to deceive potential investors.

Van Den Heuvel said he has lost 60 pounds in jail and has written the first 100 pages of a book.

Van Den Heuvel insists the Green Box recycling system, which breaks down food-contaminated products into reusable paper and energy, will receive a patent soon, and in time will create hundreds of jobs.

He said one paragraph on the second-to-last page of the plea agreement was more important than any other to him. It states that the government's fraud charges do not dispute whether the system Van Den Heuvel developed actually works.