Court Sentences Alleged Fraudster to Nine Years in Prison in Parallel Criminal Case
Litigation Release No. 24699 / December 23, 2019
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)
Stamford, Connecticut resident Thomas J. Connerton was sentenced on December 20, 2019 to nine years imprisonment in a criminal action brought by the United States Attorney for the District of Connecticut for conduct related to charges brought by the Securities and Exchange Commission. Connerton was also sentenced to four years of supervised release. A jury convicted Connerton in the criminal action on September 17, 2018, of twelve counts of wire fraud, one count of mail fraud, sixteen counts of securities fraud, four counts of money laundering, and one count of tax evasion. Restitution will be determined after additional court proceedings.
In the parallel civil action, filed in June 2016, the SEC charged Connerton and his company, Safety Technologies LLC, with making false and misleading statements to investors about potential business deals and misappropriating investor fund for his personal use. The victims of Connerton's alleged 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. In early 2017, Connerton and Safety Technologies agreed to settle the SEC's charges and pay more than $1.89 million in disgorgement, interest, and civil penalties. They also consented to a lifetime ban on participating in the issuance, purchase, offer, or sale of any security.