Crime & Safety
Former New Canaan Man Sentenced for Defrauding Investors
He defrauded victims of more than $1.3 million and spent it on things like country club dues, mortgage payments and private school tuition.
NEW CANAAN, CT — A former New Canaan man now residing in Denver was sentenced to 33 months in prison for defrauding investors of more than $1.3 million.
John Jeffrey, 49, also known as Tucker Jeffrey, offered individuals the opportunity to invest in Anchor Shipping and Trading and Southern Cross Shipping, which were supposedly based in the Marshall Islands.
However, no such companies exist, according to the U.S. Attorney for the District of Connecticut office. He also pretended that well-known shipping executives were involved in the business when they weren't.
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Jeffrey used the money for personal expenses, including his New Canaan home mortgage, country club dues, home renovation and private school tuition.
Jeffrey paid back certain victims after he found out about an FBI investigation, but he required those victims to sign "settlement" agreements.
Find out what's happening in New Canaanfor free with the latest updates from Patch.
Jeffrey pleaded guilty to wire fraud in March.
He will also have to pay $919,500 in restitution.
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