Jason Rodriguez, a former NYPD cop, has been charged on suspicion of defrauding investors of $3.5 million after wooing them with false stories, including claiming they could recover their losses through artificial intelligence. according to a civil court file.
Rodríguez, resident of Queens, He worked for seven years with the NYPD during which accumulated a series of disciplinary infractions. He resigned on October 14, 2019 after pleading guilty following a drunk driving arrestsources told Daily News. But Instead, he told his investors that he had left the NYPD because of its “success” in the global currency markets.federal authorities allege.
Now the 37-year-old former police officer has been charged with wire fraud conspiracy. He was ordered released on $200,000 bail on Wednesday. Tribunal Federal de Brooklyn. His attorney Ben Yaster declined to comment.
A PowerPoint presentation touted how his “zealous ambition to trade took priority and resulted in the end of his law enforcement career,” according to the federal indictment.
Six months after leaving the police, in 2020 he founded a company called “Technical Trading Team (TTT)”, which he ran as a “Ponzi scheme”, using money from new investors to pay interest to previous investors, prosecutors allege. Of the $4.8 million in investor funds received his company between April 2020 and September 2022, around $3.5 million has not been returned, prosecutors allege.
Last October, the Commodity Futures Trading Commission (CFTC) accused Rodríguez and the executive director of TTT, Edwin Carrión, for falsely claiming that “they could recover their losses when they finished creating a “robot” that used artificial intelligence based on machine learning,” according to the civil court filing.
“Rodriguez also falsely promised victims that their investments would be safe because there would be barriers on their business activity to limit the risks,” the attorney said Wednesday. fiscal federal Breon Peace en a statement.
Rodríguez gained the trust of his investors, but lost more than $3.2 million in transactions over two years and used investors’ money to pay for luxury car rentals and trips, the feds allege.
If convicted, Rodríguez faces up to 20 years in prison. All charges are mere accusations and those charged are presumed innocent until proven guilty in court.
Last week, a woman pleaded guilty to a six-year, $3.5 million fraud scheme while she was Director of Finance and Administration at the New York University (NYU).
In February, another Hispanic man was arrested for allegedly falsely and repeatedly claiming to be the owner of “The New Yorker,” an iconic hotel opened in 1930 in Midtown Manhattan.
2024-03-06 20:19:00
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