Ex-NYPD cop, fake financial wiz admits fleecing foreign investors out of millions

A disgraced erstwhile NYPD serviceman has pleaded blameworthy to ligament fraud conspiracy aft helium scammed investors retired of millions by telling them however helium discontinue the constabulary unit due to the fact that of his occurrence successful the planetary currency markets.

Jason Rodriguez really discontinue the NYPD aft a drunk driving-related conviction, and the overseas speech money helium ran operated similar a Ponzi scheme. Rodriguez entered his blameworthy plea successful Brooklyn Federal Court Wednesday.

Rodriguez, 38, of Queens, could look betwixt six-and-a-half to 8 years down bars based connected national sentencing guidelines. The maximum condemnation is 20 years.

The erstwhile seven-year NYPD seasoned near the unit connected Oct. 14, 2019, aft helium pleaded blameworthy to a misdemeanor complaint from a drunk driving arrest, instrumentality enforcement sources told the Daily News. He had besides racked up respective disciplinary infractions, according to national prosecutors.

Six months later, helium founded a steadfast named Technical Trading Team, oregon TTT, utilizing wealth from caller investors to wage involvement to earlier investors, national prosecutors allege.

He utilized his constabulary acquisition arsenic portion of his pitch, telling investors successful PowerPoint presentations that his “zealous ambition for trading took precedence, resulting successful the extremity of his instrumentality enforcement career,” according to an indictment against him.

Rodriguez promised investors their wealth would beryllium secure: He said his institution would ne'er hazard much than 1% of its assets connected immoderate azygous trade, wouldn’t clasp positions unfastened overnight and would support a “loss reserve account” to support investments, the feds said.

All of those promises turned retired to beryllium lies, and helium utilized capitalist wealth to wage for luxury car rentals and question to boot, the feds said.

Of the $4.8 cardinal successful capitalist funds his institution received betwixt April 2020 and September 2022, astir $3.5 cardinal hasn’t been paid back, prosecutors allege.

“The suspect deceived retail investors into investing with his institution based connected mendacious promises that helium would put their wealth successful accordance with wide guardrails and that helium had near the NYPD due to the fact that of his occurrence arsenic a trader,” U.S. Attorney Breon Peace said Thursday.

“In reality, determination were nary guardrails, helium resigned from the NYPD successful disgrace, and helium mislaid astir of the money, inflicting important harm connected his victims.”

Rodriguez remains escaped connected $200,000 bail arsenic helium awaits an April 24 sentencing.