Florida Trucking Owner Sentenced to $51M for Investment Fraud Scheme

Why It Matters A major fraud case has exposed vulnerabilities in how some trucking companies solicit investments. Sanjay Singh, owner of Royal Bengal Logistics in Coral Springs, Florida, was ordered to pay $51.2 million in restitution after orchestrating an elaborate Ponzi scheme that defrauded approximately 2,000 investors. Key Details Singh was sentenced to 23 years in federal prison in May 2025 after conviction on eight counts including wire fraud, money laundering, and conspiracy. The scheme ran from January 2020 until his arrest, with victims primarily from the Haitian-American community. The Fraud Operation Singh falsely promised high returns by inviting investors to purchase contracts in RBL. He claimed the trucking business was thriving and profitable, while the actual operations consistently lost money. The scheme raised over $158 million from victims, which Singh used to pay earlier investors and fund personal expenses including home renovations, mortgage payments, and stock trading. What's Next Investigators from the Department of Transportation Office of Inspector General, FBI, and Florida Office of Financial Regulations worked jointly on the case. Singh also transferred millions of dollars overseas to family members in India, further depleting victim funds.