Investment Fraud Victims Include Online Daters
Connecticut man Thomas J. Connerton was charged by the SEC with securities fraud for duping over 50 investors—many met via online dating—into funding Safety Technologies LLC with false claims about cut‑resistant glove technology, misusing the money (including a $20,000 engagement ring) and now faces asset freezes, a permanent injunction and disgorgement penalties.
The SEC alleges that Thomas J. Connerton misled more than 50 investors, including several women he met on a dating site, by claiming his company Safety Technologies LLC was about to secure lucrative deals to develop cut‑resistant surgical glove material. In reality, no such deals materialized and Connerton emptied the company’s bank account, writing checks to himself and spending investor funds on personal items such as a $20,000 engagement ring. The agency has obtained a court order freezing his and the company’s assets and is seeking a permanent injunction, disgorgement of ill‑gotten gains with interest, and civil penalties for unregistered private offerings and other securities law violations.
The Securities and Exchange Commission charged Thomas J. Connerton, a Connecticut resident, with securities fraud after he persuaded more than 50 investors to fund his venture, Safety Technologies LLC, by falsely asserting that the firm was on the brink of major contracts to produce a cut‑resistant surgical glove material. Many of the investors were women he met through an online dating platform, and the SEC says he exploited these personal connections to solicit money. Connerton never secured any of the promised deals; instead, he wrote a series of checks to himself, emptied the company’s bank account, and used investor money for personal expenses, including a $20,000 engagement ring for a dating‑app acquaintance. The complaint notes that he conducted unregistered private offerings, failed to provide required financial disclosures, and was not registered to sell securities. In response, a federal court ordered the freezing of Connerton’s and Safety Technologies’ assets. The SEC is seeking a permanent injunction, the return of the misappropriated funds with interest, and civil penalties. The agency also warned investors to verify the registration status of anyone selling securities via investor.gov.
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- agency Securities and Exchange Commission
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- The Securities And Exchange Commission Announced Fraud Charges And An Asset Freeze Obtained Against A Connecticut Man
- The Sec Allege Thomas J. Connerton Told Investors That His Company Safety Technologies Llc Was Developing A Material To Make Surgical Gloves Better Resistant To Cuts Or Punctures
- Thomas J. Connerton Claimed Several Major Glove Manufacturers Wanted The Technology And Safety Technologies Was On The Brink Of Imminent Deals That Would Result In Large Payouts For Investors In His Company
- Connerton Emptied The Company’S Bank Account By Writing A Series Of Checks To Himself And Using Investor Funds For His Own Expenses
- Court Documents Filed By The Sec Indicate Among Connerton’S Improper Spending Of Investor Funds Was $20,000 For An Engagement Ring For His Latest Online Date Turned Investor
- The Sec Seeks A Permanent Injunction As Well As The Return Of Allegedly Ill-Gotten Gains Plus Interest And A Penalty
- The Sec’S Investigation Was Conducted By Jonathan R. Allen, Sofia Hussain, Alfred Day, And Amy Gwiazda Of The Boston Office
The Securities and Exchange Commission today announced fraud charges and an asset freeze obtained against a Connecticut man accused of misleading people into investing in his company and then taking their money for his personal use. His victims include several women he met through an online dating website. The SEC alleges that Thomas J. Connerton told investors that his company Safety Technologies LLC was developing a material to make surgical gloves better resistant to cuts or punctures. He claimed that several major glove manufacturers wanted the technology and Safety Technologies was on the brink of imminent deals that would result in large payouts for investors in his company. But no deals have ever been anywhere close to materializing, and Connerton has emptied the company’s bank account by writing a series of checks to himself and using investor funds for his own expenses. According to court documents filed by the SEC, among Connerton’s improper spending of investor funds was $20,000 for an engagement ring for his latest online date turned investor. There are more than 50 investors in Safety Technologies, including six women Connerton met through online dating and 14 others who are family or friends of those women. “We charge Connerton with lying about the state of his business and exploiting personal connections to lure in investors,” said Paul G. Levenson, Director of the SEC’s Boston Regional Office. “Investors beware: a rosy picture of a business that’s about to take off could still lead to a total loss of investment.” According to the SEC’s complaint, Connerton failed to comply with the requirements for private offerings exempt from registration under the federal securities laws, such as providing investors with appropriate financial information and confirming that they have sufficient knowledge and experience to evaluate the merits and risks of the investment. Connerton also is not registered to sell investments. Investors can quickly and easily check whether people selling investments are registered by using the SEC’s investor.gov website. The SEC has obtained a court order freezing the assets of Connerton and Safety Technologies. The SEC’s complaint seeks a permanent injunction as well as the return of allegedly ill-gotten gains plus interest and a penalty. The SEC’s investigation was conducted by Jonathan R. Allen, Sofia Hussain, Alfred Day, and Amy Gwiazda of the Boston office.
The Securities and Exchange Commission today announced fraud charges and an asset freeze obtained against a Connecticut man accused of misleading people into investing in his company and then taking their money for his personal use. His victims include several women he met through an online dating website. The SEC alleges that Thomas J. Connerton told investors that his company Safety Technologies LLC was developing a material to make surgical gloves better resistant to cuts or punctures. He claimed that several major glove manufacturers wanted the technology and Safety Technologies was on the brink of imminent deals that would result in large payouts for investors in his company. But no deals have ever been anywhere close to materializing, and Connerton has emptied the company’s bank account by writing a series of checks to himself and using investor funds for his own expenses. According to court documents filed by the SEC, among Connerton’s improper spending of investor funds was $20,000 for an engagement ring for his latest online date turned investor. There are more than 50 investors in Safety Technologies, including six women Connerton met through online dating and 14 others who are family or friends of those women. “We charge Connerton with lying about the state of his business and exploiting personal connections to lure in investors,” said Paul G. Levenson, Director of the SEC’s Boston Regional Office. “Investors beware: a rosy picture of a business that’s about to take off could still lead to a total loss of investment.” According to the SEC’s complaint, Connerton failed to comply with the requirements for private offerings exempt from registration under the federal securities laws, such as providing investors with appropriate financial information and confirming that they have sufficient knowledge and experience to evaluate the merits and risks of the investment. Connerton also is not registered to sell investments. Investors can quickly and easily check whether people selling investments are registered by using the SEC’s investor.gov website. The SEC has obtained a court order freezing the assets of Connerton and Safety Technologies. The SEC’s complaint seeks a permanent injunction as well as the return of allegedly ill-gotten gains plus interest and a penalty. The SEC’s investigation was conducted by Jonathan R. Allen, Sofia Hussain, Alfred Day, and Amy Gwiazda of the Boston office.