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Fairfield County Man Sentenced For Running $5M Ponzi Scheme Fairfield County Man Sentenced For Running $5M Ponzi Scheme
Fairfield County Man Sentenced For Running $5M Ponzi Scheme A Fairfield County man has been sentenced to 42 months in prison in connection with his years-long Ponzi scheme to defraud customers of nearly $5 million. James T. Booth, 75, of Norwalk, was sentenced in Manhattan Federal Court on Tuesday, Nov. 17, Audrey Strauss, the Acting U.S. Attorney for the Southern District of New York said. Booth, who ran Booth Financial Associates, pleaded guilty in October 2019 to the crimes. According to the U.S. Attorney's Office, Booth ripped off clients of nearly $5 million through a variety of lies and misrepresentations.  “Today, James T. Booth was se…

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by Kathy Reakes
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Norwalk Financial Advisor Admits To Multimillion-Dollar Ponzi Scheme Norwalk Financial Advisor Admits To Multimillion-Dollar Ponzi Scheme
Norwalk Financial Advisor Admits To Multimillion-Dollar Ponzi Scheme A financial adviser from Fairfield County admitted to running a yearlong multi-million dollar Ponzi scheme. Norwalk resident James Booth, 74, who operated Booth Financial Associates, pleaded guilty solicited money from clients, falsely promising to invest the money in opportunities offered outside of their ordinary advisory and brokerage accounts. Booth pleaded guilty to one count of securities fraud. When he is sentenced on Feb. 21 next year, he will face up to 20 years in prison. In total, Booth fraudulently obtained nearly $5 million from his customers. Instead of investing their money,…

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by Zak Failla
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Financial Adviser From Norwalk Charged In Multimillion-Dollar Ponzi Scheme Financial Adviser From Norwalk Charged In Multimillion-Dollar Ponzi Scheme
Financial Adviser From Norwalk Charged In Multimillion-Dollar Ponzi Scheme A financial adviser from Fairfield County is facing charges for allegedly running a yearlong multi-million dollar Ponzi scheme. Norwalk resident James Booth, 74, who operated Booth Financial Associates, allegedly solicited money from clients, falsely promising to invest the money in opportunities offered outside of their ordinary advisory and brokerage accounts.  In total, Booth fraudulently obtained nearly $5 million from his customers. Instead of investing their money, Booth used it to pay personal and business expenses, U.S. Attorney Geoffrey Berman said. Booth was arrested on Monda…

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by Zak Failla