Johanna Michely Garcia, 41, former president of MJ Capital Funding, LLC, pleaded guilty in July to conspiracy to commit mail and wire fraud. She received the maximum possible sentence of 20 years.

Federal prosecutors said Florida woman Johanna Garcia led a Ponzi scheme that raised nearly $200 million and lost investors nearly $90 million.

The court found she continued to recruit investors even after the FBI and SEC shut down the firm in fall 2021.