Three Omaha men have been indicted on federal charges that accuse them of bilking more than 100 people of about $4 million in a Ponzi scheme.

The federal indictments announced Wednesday name 44-year-old Jonathan Arrington, 52-year-old Michael Kratville and 38-year-old Michael Welke. Each faces 14 counts of mail and wire fraud and conspiracy.

Federal authorities say the three told investors with Elite Management Holdings Corp. that the fund guaranteed returns of 4 percent to 6 percent a month, and that investors’ risk was low, because only 10 percent of their principal investment would be invested at any one time.

Prosecutors say the three used more than $700,000 themselves, including for golf club memberships, travel and dining.

If convicted, the men face up to 20 years on each count.