Two of the three principals in a hedge fund swindle that scammed millions of dollars from some of Palm Beach's savviest investors were sentenced Thursday in U.S. District Court.

Judge Kenneth Ryskamp sentenced Jung Bae Kim, also known as John B. Kim, and his brother Yung Bae Kim to prison terms of 220 months and 75 months, respectively.

Both were also ordered to serve three years of supervised release and to pay more than $75 million in restitution.

The siblings, formerly of Jupiter, were indicted in December 2006 on charges connected to the collapse of the KL Group LLC, a hedge fund that was little more than a high-gloss Ponzi scheme.

Court documents say that from 2000 to 2005, the defendants fraudulently obtained more than $194 million from investors by deception, including counterfeit account statements and outright lies.

The sentences were the result of an earlier plea agreement. Jung Kim pleaded guilty to a single count of wire fraud; Yung Kim pleaded guilty to a single count of wire fraud and a single count of conspiracy to commit wire fraud.

The third principal in KL, Won Sok Lee, remains at large.

The trio's corporate entities — KL Group LLC, KL Florida LLC and KL Triangulum Management LLC — were placed on probation, and a court-appointed receiver will continue to monitor assets.

To date, $6.5 million has been recovered.

Assistant U.S. Attorneys Stephen Carlton and Edward Nucci prosecuted the case.