Johanna Michely Garcia, 41, from Broward County, faces up to 20 years in prison after pleading guilty to leading a $190.7 million Ponzi scheme.

Garcia, the former CEO of MJ Capital Funding, LLC, admitted to conspiracy charges involving mail and wire fraud.

Her scheme, which defrauded investors by soliciting funds for merchant cash advances, ran from October 2020 to August 2021.

The FBI shut down MJ Capital Funding in Fall 2021, Local 10 Miami has reported.

Co-conspirator Pavel Ramon Ruiz Hernandez was sentenced to 110 months in prison in September 2023. Garcia is scheduled for sentencing on September 20.

Written by B.C. Begley