BOSTON (WWLP) – An investment adviser from Bridgewater was sentenced for defrauding investors out of over $1.2 million.
Massachusetts man sentenced to prison for operating unlicensed money-transmitting business
According to the Department of Justice, 38-year-old Jose Rocha of Bridgewater was sentenced to two years in prison and three years of supervised release. Rocha was also ordered a forfeiture of $774,737. Back in September, Rocha pleaded guilty to one count of securities fraud.
Rocha solicited investments from Massachusetts residents between 2020 and 2022. He was portraying himself as a successful investor in publicly traded securities such as stocks and stock options and promised to manage investor funds in exchange for a share of the returns. Rocha, in total, ended up stealing over $1.2 million in investment funds from his victims.
Rocha then…
