Ringleader Sentenced to Over 12 Years in Prison for $6.6 Million Broward Securities Fraud Scheme
Thomas A. Guerriero, 39, of Deerfield Beach was sentenced to 151 months’ imprisonment by United States District Court Judge Beth Bloom for orchestrating a $6.6 million securities fraud scheme. Guerriero was also ordered to pay $6.6 million in restitution and will serve three years of supervised release, upon his release from incarceration.
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, and George L. Piro, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, made the announcement.
Guerriero and eight other South Florida residents were indicted on criminal charges, for operating a Broward County telemarketing scheme (“a boiler room”) that targeted investors throughout the country and ultimately defrauded them out of $6.6 million dollars. On February 29, 2016, Guerriero pled guilty to conspiracy to commit mail and wire fraud, in violation of Title 18, United States Code Section 1349.
According to the court record, including the defendant’s plea, Guerriero was the president and owner of a Deerfield Beach, Florida company, Oxford City Football Club, Inc. (“Oxford City”). Guerriero led a group of sales people whom he personally trained. Guerriero and his sales team solicited investors throughout the United States to buy stock shares of Oxford City, a corporation that claimed to manage a portfolio involving sports, education, media, and real estate businesses. Guerriero and his co-conspirators sold stock directly from the company in private placement offerings.
From July 2013 through July 2015, Guerriero and his group conspired to misappropriate investor money for their personal benefit by making material false statements regarding the Oxford City stock. Guerriero and his group used high-pressure, strong-armed tactics to intimidate and coerce individuals to invest in Oxford City. Over the course of the scheme, Guerriero and his team caused over 150 individuals to buy shares of Oxford City restricted stock for approximately $6.6 million dollars. Many of the victims targeted by Guerriero and his co-conspirators were elderly. Many of the victims lost their life’s savings as a result of the fraudulent scheme.
Mr. Ferrer commended the investigative efforts of the FBI. This case was prosecuted by Assistant U.S. Attorneys Roger Cruz and Michelle Alvarez, and Trial Attorneys Kevin B. Hart and Rebecca Ryan from the Antitrust Division of the Department of Justice.