Connecticut Financial Advisor Accused of Perpetrating Ponzi Scheme

Posted on May 15th, 2014 at 4:15 PM

From the Desk of Jim Eccleston at Eccleston Law Offices:

Robert E. Lee, Jr. – an Oxford, Connecticut based financial advisor – was arrested by the FBI on a federal criminal complaint charging him with defrauding multiple investors in a Ponzi scheme.

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 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. Securities rules and regulations require Rockwell and all financial services firms to maintain and enforce a supervisory system to detect and prevent such illegal activities. As a result, Rockwell may be liable to investors who have suffered losses.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags:

Return to Archive

TESTIMONIALS

Previous
Next

We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

LATEST NEWS AND ARTICLES

August 16, 2022
SEC Warns Financial Advisory Firms Regarding Conflicts of Interest Tied to Compensation

The Securities and Exchange Commission (SEC) has sent a warning to financial advisory firms that they must go above and beyond solely disclosing conflicts of interest related to employee pay programs in order to avoid regulatory scrutiny. 

August 15, 2022
FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices

The Financial Industry Regulatory Authority (FINRA) has filed proposed changes to FINRA Rule 3110 with the Securities and Exchange Commission (SEC).

August 12, 2022
SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.