Defendant in SEC Enforcement Action Convicted of Misleading Investors, Money Laundering, and Tax Evasion

Litigation Release No. 24292 / September 28, 2018

Securities and Exchange Commission v. Thomas J. Connerton and Safety Technologies LLC, No. 16-cv-00882 (D. Conn. filed June 8, 2016)

United States v. Thomas J. Connerton, et al., No. 17-cr-47 (D. Conn. filed March 9, 2017)

A Connecticut man accused by the Securities and Exchange Commission of misleading people into investing in his company and then taking their money for his personal use was found guilty by a federal jury in a parallel criminal case.

The criminal charges against Thomas Connerton arose in part from the same conduct alleged in the SEC's case against Connerton and his company, Safety Technologies LLC. The victims of the scheme included several women Connerton met through an online dating website. When the SEC filed its case, it stopped the ongoing fraud and froze Connerton's assets. A month after the filing of the criminal charges, Connerton and Safety Technologies agreed to settle the SEC's charges by agreeing to pay more than $1.89 million in disgorgement, interest, and civil penalties, and a lifetime ban on participating in the issuance, purchase, offer, or sale of any security.

The SEC thanks the U.S. Attorney's Office for the District of Connecticut for its efforts in prosecuting the case.