Coral Springs Man Guilty in Elaborate Ponzi Scheme Targeting Haitian Americans

Sanjay Singh, of Coral Springs, was found guilty of one count of conspiracy to commit wire fraud, six counts of wire fraud, and one count of money laundering for his role in an investment fraud scheme that duped investors out of approximately $53 million.

The OFR’s investigation revealed that from January 2020 until June 2023, Singh and his co-conspirators defrauded more than 1,600 investors through a classic Ponzi scheme. Under the guise of operating a profitable trucking logistics business named Royal Bengals Logistics, Inc., (RBL), they offered different investment programs to investors: trucking, short-term investment, long-term investment, trailer manufacturing sponsorship, real estate, airline, and truck dealership. During the two-and-a-half-year period, RBL did in fact generate revenue from their trucking operations, however, none of the investment programs generated any revenue. Singh targeted mainly Haitian American Investors throughout the United States and used new investor money to pay earlier investors. At least $3 million of the victims’ money was used to pay his co-conspirators, the rest were used to fund Singh’s personal lifestyle, including giving $6 million to a company owned by his brother-in-law and $540,000 to other relatives.

This investigation was developed jointly with the Federal Bureau of Investigation, U.S. Department of Transportation, and the United States Attorney’s Office.