SEC v. Royal Bengal Logistics, Inc. and Sanjay Singh (ponzi schemes, 2023)

Judgment entered

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In June 2023 the SEC charged Royal Bengal Logistics, Inc. and Sanjay Singh over an alleged $112 million Ponzi scheme. An SEC whistleblower notice lists a qualifying judgment or order in the case dated June 10, 2024; the notice does not give the terms.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission announced this matter on June 26, 2023 as release LR-25755. The complaint alleges that Singh and his trucking company raised about $112 million from 1,500 investors, mostly Haitian-Americans, and used about $70 million of new money for Ponzi-like payments while Singh took at least $14 million. An officer-and-director bar is sought, not imposed.

This library tags the matter as a Ponzi scheme because the document describes returns to earlier investors paid from later investors' money, as alleged or found. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

An SEC whistleblower-program notice dated July 31, 2024 for SEC v. Royal Bengal Logistics, Inc., and Sanjay Singh, No. 23-cv-61179 (S.D. Fla.), lists the date filed as June 20, 2023 and a date of qualifying judgment or order of June 10, 2024. In that program a qualifying judgment is a court judgment or order imposing sanctions above a statutory threshold, so the notice indicates that a monetary judgment or order was entered on that date.

The notice does not state the amounts, whether the judgment was by consent or default, or whether it covers both Royal Bengal and Singh. No money figures are recorded here for that reason, and the court's judgment itself was not found.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Ponzi schemes — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2023-06-26 Litigation release published
2. 2024-06-10 Qualifying judgment or order dated per SEC whistleblower notice

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release
• SEC whistleblower notice of covered action 2024-088

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.