The Dallas-based receiver investigating the alleged $8 billion Stanford fraud wants 66 financial advisors to return commissions, bonuses and other compensation estimated at $40 million paid by Sir Allen Stanford’s company to sellers of certificates of deposit, according to the Financial Times.

“The CDs sold to Stanford customers were not genuine investments, but, rather, part of a massive Ponzi scheme that bilked investors out of billions of dollars,” court documents reportedly assert.

An “elaborate and sophisticated” system of incentives kept brokers “highly motivated” both to sell CDs to bring in new money and to minimise redemptions of CDs previously sold, the lawsuit claims, saying also that because the services provided by the brokers were not legitimate, they were not entitled to the money.