GRIMY TIMES EXCLUSIVE: Stamford’s THOMAS J. CONNERTON and JEAN S. ERICKSON are facing federal charges after allegedly swindling over $2 million from investors in a fraudulent investment scheme. Connerton, 64, and Erickson, 62, have been indicted by a grand jury for various offenses including wire fraud, mail fraud, securities fraud, and money laundering.
The duo is accused of operating through Safety Technologies, LLC (Safety Tech), a company founded by Connerton that claimed to develop puncture-resistant materials for the surgical glove market. The indictment alleges that Connerton deceived investors into providing funds and purchasing Safety Tech securities under false pretenses, promising lucrative returns and product launches.
Despite claims of funding research and development, it is alleged that Connerton used investor money for personal expenses, including the purchase of diamond rings. He also reportedly misused funds to repay loans to earlier investors. The scheme defrauded over 50 victims.
Erickson, who was released on a $250,000 bond, is charged with aiding Connerton in monetary transactions to conceal the source of fraudulent proceeds. She also faces charges for lying to the FBI about her relationship with Connerton during a call.
Connerton faces 12 counts of wire fraud, one count of mail fraud, and 18 counts of securities fraud, each carrying a maximum sentence of 20 years. Erickson is charged with one count of money laundering conspiracy, with a possible 10-year sentence. Both are due in court on Monday for detention hearings.
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Key Facts
- State: Connecticut
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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