Investment Adviser Sentenced to Two Years in Prison for Defrauding Investors of Over $1.2 Million

BOSTON – An investment adviser from Massachusetts was sentenced today in federal court in Boston for defrauding investors out of more than half a million dollars.

Jose Rocha, 38, of Bridgewater, was sentenced by U.S. District Court Judge Leo T. Sorokin to two years in prison and three years of supervised release. The Court also entered an order of forfeiture in the amount of $774,737. In September 2023, Rocha pleaded guilty to one count of securities fraud.

Between 2020 and 2022, Rocha solicited investments from individuals in Massachusetts. Rocha portrayed himself as a successful investor in publicly traded securities – including stocks and stock options – and promised to manage investor funds in exchange for a share of the returns. In total, Rocha obtained over $1.2 million in investment funds from his victims. Thereafter, Rocha used a portion of those funds to pay purported investment returns to other investors and misappropriated funds for himself, including to pay for vacations and gambling at casinos. 

The Securities and Exchange Commission filed a civil complaint against Rocha in August 2023 alleging violations of the securities laws. In conjunction with the guilty plea in this case, Rocha entered into a Consent Judgment with the Securities and Exchange Commission.

Acting United States Attorney Joshua S. Levy and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigations, Boston Division made the announcement. The Securities and Exchange Commission provided valuable assistance with the investigation. Assistant U.S. Attorney Christopher J. Markham of the Securities, Financial & Cyber Fraud Unit prosecuted the case.