Oxford Man Sentenced to 63 Months in Prison for Stealing $1.1 Million Through Ponzi Scheme
Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that ROBERT E. LEE, JR., 51, of Oxford, was sentenced today by U.S. District Judge Jeffrey Alker Meyer in Bridgeport to 63 months of imprisonment for operating a Ponzi scheme that defrauded investors of more than $1.1 million. Judge Meyer also ordered LEE to pay full restitution and a $10,000 fine.
According to court documents and statements made in court, LEE was employed as a broker and financial advisor for various financial investment firms until July 2013 when he was terminated by his most recent employer, Rockwell Global Capital, LLC. Between January 2011 and March 2014, LEE defrauded individuals of approximately $1,150,815 by claiming that he was investing their money in various investment vehicles when, in fact, he was maintaining custody of their funds in his personal bank account. He then used the money to make distributions to other investors, and for personal expenses. To conceal the scheme, LEE fabricated account statements and other documents, which he delivered to his victims.
As part of the sentence, Judge Meyer ordered LEE to forfeit $358,077.17 that was held in an online trading account at the time of his arrest.
LEE was arrested on May 12, 2014. On December 17, 2014, he pleaded guilty to five counts of wire fraud.
This matter was investigated by the Federal Bureau of Investigation was prosecuted by Assistant U.S. Attorneys David T. Huang and Christopher M. Mattei.