Oxford Resident Charged with Running Ponzi Scheme
|U.S. Attorney’s Office May 13, 2014|
Deirdre M. Daly, United States Attorney for the District of Connecticut, and Patricia M. Ferrick, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, today announced that Robert E. Lee, Jr., 50, of Oxford, was arrested yesterday on a federal criminal complaint charging him with defrauding multiple investors via a Ponzi scheme.
As alleged in the criminal complaint, Lee was employed as a broker and financial adviser 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 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. Victims lost several million dollars as a result of this scheme.
Lee was arrested yesterday at his residence. He then appeared before U.S. Magistrate Judge Joan G. Margolis in New Haven and was released on $250,000 bond.
The criminal complaint charges Lee with wire fraud, an offense that carries a maximum term of imprisonment of 20 years.
U.S. Attorney Daly stressed that a complaint is only a charge and is not evidence of guilt. Charges are only allegations, and the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.
This matter is being investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant U.S. Attorney Christopher M. Mattei. Citizens with information that may be helpful to this ongoing investigation are encouraged to contact the FBI at (203) 777-6311.