Crime & Safety
Oxford Man Charged Monday for Running Ponzi Scheme
Oxford resident and financial broker charged with defrauding investors of million of dollars.
An Oxford man was arrested Monday for allegedly running a Ponzi scheme that bilked investors out of several million dollars.
Robert Lee, Jr., 50, of Oxford, was charged with wire fraud, which carries a maximum sentence of 20 years in prison.
According to the criminal complaint, Lee worked as a broker and financial advisor for various investment firms until being fired by his most recent employer, Rockwell Global Capital, LLC, in July 2013.
Between January 2011 and March 2014, Lee allegedly collected investments from individuals and kept those funds in his personal bank account, rather investing that money as proposed.
To keep the scam going, Lee used a portion of those funds to pay out other investors and falsified account statements and other documentation.
According to the complaint, Lee’s victims lost several million dollars in the scheme.
Lee was arrested at home Monday and later arraigned and released on $250,000 bond.
The case is being investigated by the FBI and is 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.
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