Trevor Bateman, 54, of Oakham Close, Swindon, has been sentenced to four years.
David Merriman, 49, of Clifton, Nottinghamshire, got three and a half years.
Bateman was found guilty at Oxford Crown Court of 10 counts of frauds, seven counts of engaging in unfair commercial practices and six charges of transferring criminal property.
Merriman was found guilty of six frauds, six counts of engaging in an unfair commercial practice and six charges of transferring criminal property.
At the trial last month, Judge Anthony King told the men that they had "proved themselves wholly unworthy to trade in any way in the building industry" and had run an "extremely obnoxious" scam. They were sentenced yesterday.
A third defendant, former Swindon Town and Aston Villa footballer Phil King, 43, was cleared of all charges of laundering the money through his Swindon pub where the traders cashed their cheques.
Many of their victims were old women who lived alone, including Jean Price, who paid £47,000 for work valued at less than £10,000.
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