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Man is Convicted in $2.2M Investment Fraud
A federal jury has convicted a Pennsylvania man on 16 counts of securities fraud, 12 counts of wire fraud, four counts of money laundering, one count of mail fraud, and one count of tax evasion in a $2.2M investment scam. Thomas H. Connerton is accused of defrauding 50 people, including several women that he met through online dating. He was the CEO, president, and founder of Safety Technologies, LLC.
Founded in 2006, Safety Technologies was supposed to develop and commercialize materials that were resistant to cuts and punctures and which could be used to make surgical gloves and related products. Starting in 2009, Connerton began persuading investors to buy securities in Safety Tech. The investments were not registered with the US Securities and Exchange Commission.