OWENSBORO, Ky (WEHT) – An Owensboro man was sentenced to 10 years in federal prison this week after he was found guilty of running a pyramid scheme in 2013 and 2014.

According to court documents, Richard G. Maike 55, of Owensboro and Doyce G. Barnes, 73, of Goldsboro, North Carolina sold positions in Infinity 2 Global, which was proven at trial to be operating as a pyramid scheme. Barnes was sentenced to four years in federal prison for his role in the pyramid scheme.

Maike and Barnes were also convicted of conspiracy to commit securities fraud in connection with the sale of $5,000 Emperor positions in the company as a form of passive income. Maike was also convicted of money laundering and tax evasion in connection with his use of approximately $3.2 million in I2G funds.

In addition to their prison sentence, Maike and Barnes were each also ordered to serve a three terms of supervised release after being released from prison. Maike was also ordered to pay a $100,000 fine.

A restitution hearing for victims of their crime is scheduled to be held on February 2 in Owensboro. Victims wishing to submit a restitution claim are asked to email the U.S. Attorney’s Office.

Another co-defendant in the case, Faraday Hosseinipour, is scheduled for sentencing on January 5. Two other co-defendants, Dennis Dvorin and Jason Syn, were severed for trial to be held at a later date.

There is no parole in the federal system.