Oxford Man Who Defrauded Investors Out of $1.1 Million Sent to Prison

Robert E. Lee Jr., 51, of Oxford, was sentenced today to 63 months in prison for operating a Ponzi scheme that defrauded investors of more than $1.1 million.

U.S. District Judge Jeffrey Alker Meyer ordered Lee to pay full restitution and a $10,000 fine. Additionally, Lee forfeited $358,000 that was in his online trading account at the time of his arrest.

According to court documents and statements made in court, Lee was employed as a broker and financial advisor for various financial investment firms until July 2013 when he was terminated by his most recent employer, Rockwell Global Capital, LLC, federal officials said.

Between January 2011 and March 2014, Lee defrauded individuals of approximately $1,150,815 by claiming that he was investing their money in various investment vehicles when, in fact, he was maintaining custody of their funds in his personal bank account, federal officials said.

He then used the money to make distributions to other investors, and for personal expenses. To conceal the scheme, Lee fabricated account statements and other documents, which he delivered to his victims, federal officials said.

As part of the sentence, Meyer ordered Lee to forfeit $358,077.17 that was held in an online trading account at the time of his arrest, officials said.

Lee was arrested on May 12, 2014. On December 17, 2014, he pleaded guilty to five counts of wire fraud.

This matter was investigated by the Federal Bureau of Investigation was prosecuted by Assistant U.S. Attorneys David T. Huang and Christopher M. Mattei.