A Sherwood Park, Alta., man on parole for a 10-year-old $4-million mortgage fraud is being sent back to prison.

"It's a shock, for sure," James Steinhubl, 49, told CBC News Monday.

Steinhubl was convicted with two others in the scheme where gullible investors were duped into providing names and credit information for a $5,000 fee.

Between 2000 and 2002, Steinhubl, realtor Eugene Chamczuk and lawyer Robert Wilson Lee used the information to fraudulently obtain mortgages on overvalued land, then leaving their victims, or "straw buyers," on the hook for the loan.

After a seven-month trial, Steinhubl was convicted in February 2011 and sentenced to 42 months in jail. He was acquitted on 15 other charges of fraud over $5,000.

On Monday the Alberta Court of Appeal reversed the acquittal, tacking on another 30 months to his sentence.

The panel of judges described Steinhubl's scheme as sophisticated, carefully planned, and persistent.

The court noted Steinhubl, who claims to be now working as a telemarketer, has not yet paid any restitution, nor is he likely to, and shows little remorse or responsibility.

"It was a huge scheme and Steinhubl was its co-author," the panel concluded. "He as more than half of its execution, especially with respect to finding and sharing the dupes."

Steinhubl, who was released on parole after serving 11 months of his original sentence, told CBC News he believed his accomplices when they told him the scheme was legal.

"Ignorance of the law is not a defence," he said. "I was ignorant. I believed the lawyer and the realtor, but the court made their ruling.

Steinhubl said he's resigned to accept the judge's decision.

"I will be a prisoner of honour. I will deal with the sneers and the slams and the mudball in the media and the attacks, but that's just the way it works."

Chamczuk and Lee pleaded guilty in 2007 and were sentenced to four years and 30 months respectively.

With files from CBC's James Hees