Connecticut Man Sentenced to 27 Months in Prison for Stealing $390,000 Through Investment Fraud Scheme
|U.S. Attorney’s Office December 20, 2013|
Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that Jonathan Gracia, 25, formerly of Middletown, was sentenced today by U.S. District Judge Vanessa L. Bryant in Hartford to 27 months of imprisonment, followed by three years of supervised release, for running an investment fraud scheme.
According to court documents and statements made in court, Gracia falsely told friends and acquaintances that he was developing a website for which he had potential buyers and that he had developed an app for the iPhone and then solicited investments and loans from his victims in connection with both of these purported ventures. Gracia regularly told the victims that they would receive outsized returns on their investments. As part of the scheme, Gracia created bogus documents to deceive his victims, including fake checks, bogus bank account statements, and a letter that he created on what appeared to be the letterhead of a prominent Connecticut hedge fund management company. Through this scheme, Gracia defrauded his victims of $390,000.
Gracia was ordered to pay full restitution to his victims.
Gracia was arrested on March 18, 2013, and is currently detained. On June 18, 2013, he pleaded guilty to one count of wire fraud.
This matter was investigated by the Federal Bureau of Investigation, with the assistance of the Branford and Stamford Police Departments. The case was prosecuted by Assistant U.S. Attorney Paul A. Murphy.