2018-09-28 sec-litreleases litigation_release 64 KB 1,382 chars

SEC v. Thomas J. Connerton; and Safety Technologies LLC, No. LR-24292, District of Connecticut (Sept. 28, 2018) — Press Release

raw: Thomas J. Connerton and Safety Technologies LLC

Thomas J. Connerton and Safety Technologies LLC, No. LR-24292 (Sept. 28, 2018)

Caption: SEC v. Thomas J. Connerton, et al.

summary

Thomas J. Connerton, founder of Safety Technologies LLC, was convicted of misleading investors, money laundering, and tax evasion, and agreed to pay over $1.89 million in a settlement with the SEC.

paragraph

Thomas J. Connerton, founder of Safety Technologies LLC, was convicted of misleading investors, money laundering, and tax evasion. The scheme involved defrauding victims, including women met through an online dating website, of over $1.89 million. Connerton and his company agreed to pay over $1.89 million in disgorgement, interest, and civil penalties, and Connerton received a lifetime ban from the securities industry.

narrative

Thomas J. Connerton, founder of Safety Technologies LLC, was convicted in a federal criminal case for misleading investors, money laundering, and tax evasion. The scheme involved defrauding victims, including women met through an online dating website, of over $1.89 million by falsely pitching investments. The SEC’s parallel civil action alleged identical misconduct and resulted in a settlement where Connerton and his company agreed to pay over $1.89 million in disgorgement, interest, and penalties. As part of the settlement, Connerton received a lifetime ban from securities activities. The SEC froze Connerton’s assets upon filing its case to halt ongoing fraud. The criminal conviction followed a jury verdict, with the U.S. Attorney’s Office for the District of Connecticut leading the prosecution in coordination with the SEC.

Enriched metadata

Scheme: affinity-fraud (95%)
Court: District of Connecticut
Outcome: convicted · 2017-03-09
Disgorgement: $1,890,000
Victim loss: $1,890,000
Entity: Thomas J. Connerton and Safety Technologies LLC

Classified affinity-fraud(confidence 95%). EDGAR detection: forms Form D· recall 58% / precision 2%. detection rule →

Extracted insights

Dollar amounts 1

$1.89M $1.89 million $1M–$10M

Entities 5

agency Securities and Exchange Commission
organization Securities and Exchange Commission
person thomas j. connerton
location United States
organization United States

Triples 10

Thomas J. Connerton misleading investors into investing in his company and taking their money for his personal use
Thomas J. Connerton committed money laundering using funds from investors for personal use
Thomas J. Connerton committed tax evasion by concealing income from investors
Securities and Exchange Commission filed enforcement action against Thomas J. Connerton and Safety Technologies LLC on June 8, 2016
United States filed criminal case against Thomas J. Connerton and others on March 9, 2017
Thomas J. Connerton Convicted of Misleading Investors, Money Laundering, and Tax Evasion
Safety Technologies LLC Defendant in SEC Enforcement Action
Securities and Exchange Commission accused Thomas J. Connerton
Thomas J. Connerton accused of misleading people into investing in his company
Thomas J. Connerton taking their money for his personal use

View original SEC litigation releasesec.gov

Extracted body text (1,382c)

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.

OCR text (1,382c · html-text · 99% conf)

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.