Stamford Couple Charged with $2 Million Fraud Scheme: Indictment

STAMFORD, CT — A city couple was indicted for an alleged investment scheme that defrauded individuals of more than $2 million.

Thomas Connerton, 64, and Jean Erickson, 62, were arrested Thursday. Connerton was the found, president and CEO of Safety Technologies LLC.

The following information is from a summary of the indictment provided by the U.S. Attorney District of Connecticut Office. Allegations haven't been proven in the court system:

Connerton had investors provide him with funds and had them purchase Safety Tech securities by representing the value at the company in the tens or hundreds of millions of dollars realm.

He also told investors that a deal to sell or license puncture and cut resistant surgical gloves was imminent and that funds would be used to bring the product to market.

He also stated in September 2015 that, “I will go on the record to state that there is not a single investor that will lose one dollar invested in Safety Technologies," the indictment alleges. Connerton then used the funds for personal expenses, including purchasing diamond engagement rings on two occasions.

More than 50 investors were defrauded. Erickson assisted in concocting monetary transactions to conceal the nature of source funds from the FBI and SEC, according to the indictment.

Erickson allegedly contacted the FBI and stated she was an investor when she was engaged to Connerton and shared a residence with him. She provided a false address to an FBI agent.

The indictment charges Connerton with 12 counts of wire fraud, one count of mail fraud and 18 counts of securities fraud, offenses that carry a maximum term of imprisonment of 20 years on each count. The indictment also charges Connerton with six counts, and Erickson with one count, of money laundering, an offense that carries a maximum term of imprisonment of 10 years on each count. Connerton and Erickson are also charged with money laundering conspiracy, an offense that carries a maximum term of imprisonment of 20 years, and Erickson is charged with one count of making a false statement to a federal agent, an offense that carries a maximum term of imprisonment of five years.

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