A South Florida moving company owner convicted of swindling millions of dollars from thousands of investors — including nurses, school teachers and military veterans — was sentenced to 23 years in prison in Fort Lauderdale federal court.
Sanjay Singh, 45, borrowed hundreds of millions from the mostly working-class investors with promises of paying them double-digit returns and ownership of the trucks in his company, Royal Bengal Logistics Inc.
In the end, about 2,000 investors — many of Haitian descent — fell for Singh’s sales pitch and lost $54 million in what federal prosecutors described as a “Ponzi scheme” that warranted 25 years in prison. In November, a 12-person jury unanimously found Royal Bengal’s former president guilty of conspiring with other employees, wire fraud and money laundering.
On Friday, U.S. District Judge David Leibowitz condemned Singh as a “huckster” who lied to victims while raising $158 million between 2020 and 2023 for his Coral Springs company. After sentencing him, the judge scheduled a restitution hearing for June 26.
The full story can be found at miamiherald.com