BOSTON (WWLP) – A Bridgewater investment advisor has been found guilty of defrauding investors of more than $1.2 million.
According to the Department of Justice, 38 years old Jose Rocha The Bridgewater defendant was sentenced to two years in prison and three years of supervised release. Rocha was also ordered to forfeit $774,737. Back in September, Mr. Rocha pleaded guilty to one count of securities fraud.
Rocha solicited investments from Massachusetts residents from 2020 to 2022. He pretended to be a successful investor in publicly traded securities, such as stocks and stock options, and promised to manage investors’ funds in exchange for a portion of his profits. Rocha ultimately stole over $1.2 million in investment funds from his victims.
Rocha then used the money to pay investment returns to other investors, then stole his own funds and used the money to pay for vacations and casino gambling.
In August, a civil complaint was filed against Mr. Rocha by the Securities and Exchange Commission for allegedly violating securities laws. Mr. Rocha entered a consent judgment with the Securities and Exchange Commission along with his guilty plea.
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