The leaders of a Brazilian crypto Ponzi scheme have reportedly been handed a combined sentence of over 170 years behind bars.

According to a new report, the three leaders of Braiscompany, which perpetrated the scheme, were sentenced for defrauding investors out of nearly $190 million, or $1.1 billion Brazilian Reals.

The report says the company’s main operator, Joel Ferreira de Souza, was handed a sentence of 128 years behind bars, while the other two perpetrators, Gesana Rayane Silva and Victor Augusto Veronez de Souza, were given sentences of 28 and 15 years, respectively.

According to authorities, the trio promised “exorbitant” returns on the crypto investments of their victims in order to initially get their funds and engaged in money laundering.

Ferreira de Souza was found to be controlling crypto portfolios through third parties, as well as using shell companies to facilitate his crimes. He was convicted of 11 counts of money laundering, while Reyane Silva, the firm’s broker, was found responsible for intermediating financial transactions and transporting funds. De Souza, Joel’s son, was also found guilty of being involved with one of the companies involved in the illegal transactions.

The judge in the case said that proceeds from the scam should go directly to the government. However, Artêmio Picanço – the lawyer representing the victims of Braiscompany – argued on one of his social media accounts that the fund should go directly to the victims.

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