Hayden O’Byrne United States Attorney for the Southern District of Florida | The Florida Bar
Sanjay Singh, a resident of Coral Springs, Florida, has been sentenced to 23 years in federal prison for his role in a $158 million Ponzi scheme operated through his trucking company, Royal Bengal Logistics, Inc. A jury convicted Singh on eight counts related to conspiracy to commit wire fraud, wire fraud itself, and engaging in transactions involving unlawful proceeds.
Singh, the founder and president of RBL, along with co-conspirators ran the fraudulent scheme starting from January 2020 until his arrest. They presented RBL as a profitable trucking business despite its actual financial losses. The indictment revealed that Singh and his partners misled investors about the risks involved with investing in RBL and how funds would be utilized. Through these misrepresentations, they secured over $158 million from investors, which was partially used to pay returns to earlier investors.
The indictment further accused Singh of diverting millions from investor funds for personal use such as home renovations and mortgage payments.
U.S. Attorney Hayden O’Byrne praised the FBI, DOT-OIG, and OFR for their investigative work. He also acknowledged the assistance provided by the United States Securities and Exchange Commission Miami Regional Office. The prosecution was handled by Assistant U.S. Attorneys Robert F. Moore and Roger Cruz with asset forfeiture managed by Assistant U.S. Attorney Marx Calderon.
Further details on this case can be accessed through the Southern District of Florida's court website under case number 23-cr-60117.
