CORAL SPRINGS, Fla. – A Coral Springs businessman who operated a fraudulent trucking investment scheme has been sentenced to 23 years in federal prison after defrauding investors out of more than $158 million, the Department of Justice confirmed Wednesday.
Authorities said Sanjay Singh, 45, was convicted in November on all eight counts of an indictment that included conspiracy to commit wire fraud, wire fraud, and engaging in transactions involving unlawful proceeds. U.S. District Judge Raag Singhal handed down the sentence this week in federal court.
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Federal prosecutors say Singh ran the scheme through his company, Royal Bengal Logistics, Inc., which was most recently headquartered at 9600 W. Sample Road in Coral Springs.
That’s where they say he promised investors extraordinary returns — in some cases more than 200% — through RBL’s so-called “truck program” and “trailer manufacturing program.”
In both cases, authorities said Singh told investors their money would be used to purchase and operate trucks or manufacture trailers while guaranteeing their principal and high monthly returns.
But they say the business was losing money, and Singh used new investor funds to pay off earlier investors in what prosecutors called a “substantial Ponzi scheme.”
The U.S. Department of Justice said Singh and his co-conspirators misrepresented the profitability of RBL’s operations, failed to disclose the risks involved, and lied about how investor money would be used.
Instead of funding trucking operations, they said Singh misappropriated millions of dollars to renovate his home, make mortgage payments, cover personal expenses, and trade stocks on margin.
The scheme began in January 2020 and continued up until Singh’s arrest in 2023.
Singh was initially indicted on June 14, 2023, and the charges were unsealed shortly after. His conviction followed a jury trial in November, where jurors found him guilty on all counts.
The FBI is urging potential victims to come forward and has launched dedicated websites in English, French, and Haitian Creole for those who believe they may have been defrauded by Royal Bengal Logistics.
Singh faced a maximum sentence of 150 years but received a 23-year term.
Prosecutors say the investigation remains ongoing, and more victims or co-conspirators could still be identified.
