Coral Springs man sentenced to 23 years in federal prison after defrauding investors in $158 million Ponzi scheme
Coral Springs, Florida – A once-promising business venture in South Florida unraveled into one of the region’s largest financial fraud cases, as 45-year-old Sanjay Singh from Coral Springs was sentenced this week to 23 years in federal prison. The lengthy prison term follows his conviction for orchestrating a $158 million Ponzi scheme through his trucking company, Royal Bengal Logistics, Inc.
Singh, who presented himself as a successful logistics entrepreneur, persuaded hundreds of investors to put their trust—and money—into what he claimed was a thriving business. But federal investigators uncovered a starkly different reality: the company was hemorrhaging money from the start.
The U.S. Attorney’s Office for the Southern District of Florida announced that Singh was found guilty in November on all eight charges, including conspiracy to commit wire fraud, wire fraud itself, and conducting financial transactions involving illegally obtained funds. A federal jury concluded that Singh knowingly misled investors, siphoning funds for personal use while creating the illusion of a profitable operation.
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According to prosecutors, Singh launched the scheme in January 2020, at the onset of the pandemic. He and unnamed co-conspirators assured investors that Royal Bengal Logistics was generating substantial revenue in the transportation sector. In reality, the company was operating at a loss. Still, the misleading sales pitch continued—and so did the investments.
Authorities said Singh used money from new investors to pay returns to earlier ones, a hallmark of a classic Ponzi structure. “They used false claims to get over $158 million from investors,” the U.S. Attorney’s Office stated. In addition to investor payouts, Singh reportedly used funds to bankroll a lavish lifestyle—covering the mortgage on his Coral Springs home, making costly renovations, buying stocks, and handling everyday personal expenses.
“The Ponzi scheme ended when Singh was arrested,” prosecutors added, noting that the operation collapsed under the weight of its own deception.
The 23-year sentence reflects the magnitude of financial harm and the trust that Singh violated. Although some funds have been traced, it’s unclear how much victims will recover—if anything. For many, the betrayal runs deeper than financial loss, touching on years of misplaced confidence in a man they believed was building a legitimate business.
As Singh begins his sentence, authorities hope the case serves as a warning to both potential fraudsters and those considering high-return investments that seem too good to be true.
