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A trio facing state charges of selling unregistered securities was arrested by the FBI Wednesday on new federal charges related to an investment program known as "3 Hebrew Boys." The FBI arrested Tony Pough, Tim McQueen and Joseph Brunson and charged each with one count of conspiracy to commit mail fraud. Agents say the men offered a program that claimed an investor could put down as little as $2,000 and make enough to pay off a home, automobile or student loan in less than two years.

About 7,000 people invested about $80 million with the men. But instead of investing the money, the men bought a $5 million personal jet , at least 20 vehicles for their personal use, season tickets to pro football teams in Atlanta and Charlotte, N.C., and real estate, FBI agents said.

The program spread quickly through churches and the military, and members of the U.S. Army made up the biggest single group of victims, according to the FBI.

Pough, 46, McQueen, 50, and Brunson, 46, were arraigned Wednesday and ordered to stay in jail until a detention hearing next week, prosecutors said. They face a maximum sentence of 20 years in prison if convicted of the federal charge.

A call to Hemphill Pride, an attorney representing the men, was not immediately returned.

In a sworn statement, an FBI agent said the men ran a program called "3 Hebrew Boys." The agent called it a Ponzi scheme, in which early investors are generously rewarded when they recruit more people into the program, but eventually enough people cannot be brought into the program to keep paying the promised returns.

It is illegal to use money from other recruits, rather than real investments, to pay investors.

The men offered close to a dozen programs where an investor could put down $1,500 and get a pay off of $50,000 in 16 months. Programs to pay off student loans and credit card debts worked in similar ways, according to the sworn statement.

The men told potential investors that the high returns would mostly come through investments in foreign currency, the FBI said.

State prosecutors have said the men took the name "Hebrew Boys" from the Bible story of three Hebrew brothers who held steadfast in their faith even when faced with death in a fiery furnace.