December 4, 2017

Stamford businessman with Simsbury ties charged in alleged investment scheme

A federal grand jury in New Haven returned a 39-count indictment in late November charging Thomas J. Connerton of Stamford in an alleged investment scheme that defrauded investors out of more than $2 million.

The grand jury in March charged Connerton, 65, with fraud and money laundering offenses, but this November added a count of tax evasion to those charges, according to John H. Durham, United States Attorney for the District of Connecticut.

Connerton was the founder, president, and CEO of Safety Technologies LLC (Safety Tech), a Connecticut company that had its principal place of business at various times in Simsbury, Madison, Westport and Stamford.

In the updated indictment, new charges allege that Connerton willfully failed to pay $271,375 in federal income taxes between 2004 and 2015.

Safety Tech was founded in 2006 for the purpose of developing and commercializing what was represented to be a highly durable puncture and cut resistant material that was to be used in the surgical glove market and other related markets but did not obtain any patents from the U.S. Patent and Trademark Office or register with the U.S. Securities and Exchange Commission ("SEC").

The indictment alleges that, beginning in approximately June 2009, Connerton induced more than 50 victim-investors to provide him funds and to purchase Safety Tech securities by falsely representing that the valuation of Safety Tech was in the tens or hundreds of millions of dollars. He also falsely claimed that a lucrative deal to sell or license his glove technology was imminent, and that he would use their funds for research and development, product testing, and to bring the product to market, authorities say.

Detained since his arrest on March 9, Connerton is set to appear at trial on May 9 before U.S. District Judge Stefan R. Underhill in Bridgeport, authorities say.

Citizens with information that may be helpful to this ongoing investigation, or who believe they have been victimized by this scheme, are encouraged to contact the FBI at (203) 777-6311.

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