The founder of multiple Connecticut-based cryptocurrency mining companies was sentenced Thursday to just under two years in prison for defrauding hundreds of investors out of over $9 million via a multi-phased Ponzi scheme involving the purported generation of virtual currency.

Homero Joshua Garza was sentenced by U.S. District Judge Robert N. Chatigny to 21 months in prison followed by six months of home confinement, for scamming investors in his cryptocurrency mining operation that relied on computing power that largely didn't exist. Judge Chatigny further ordered Garza to pay almost $9.2 million in restitution.

"He is very sorry for his conduct," said Margie Peerce, a Ballard Spahr law who represents Garza. "He will serve his time and return to his wife and children and to being a productive member of society."

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