A trucking company owner was sentenced to 23 years in prison in Florida on May 30 after being found guilty of multiple fraud charges.
According to a release, On May 30, 2025, the United States District Court for the Southern District of Florida sentenced Sanjay Singh, the owner of Royal Bengal Logistics, Inc., to 276 months in prison, 36 months of supervised release, and an $800 assessment. Singh had been found guilty of wire fraud, money laundering, and conspiracy.
According to a press release issued by the courts, the investigation discovered Singh utilized his company to build an extensive Ponzi fraud scheme by luring investors into contracts for freight trucking services with promises of extraordinarily large interest payments. The scheme collected over $158 million in investor funds between 2020 and 2023. The investigation also revealed that Singh misappropriated millions of dollars of investor funds for personal gain, including sending millions overseas to family members in India.