October 29, 08

NEWS / GREENWICH MAN SENTENCED TO 70 MONTHS IN FEDERAL PRISON FOR DEFRAUDING INVESTORS OF MORE THAN $5 MILL

Nora R. Dannehy, Acting United States Attorney for the District of Connecticut, announced that ROBERT E. BRIDGES, 52, of Greenwich, was sentenced today by Senior United States District Judge Peter C. Dorsey in New Haven to 70 months of imprisonment, followed by three years of supervised release, for defrauding investors of more than $5 million. On January 10, 2008, BRIDGES pleaded guilty to two counts of wire fraud.

According to documents filed with the Court and statements made in court, from 2004 to 2006, BRIDGES engaged in various schemes to defraud investors, including a scheme in which BRIDGES promised investors that he would buy debt portfolios with the funds. Through these schemes, BRIDGES defrauded investors of more than $5 million.

Today, Judge Dorsey ordered BRIDGES to pay to his victims restitution in the amount of $5,096,954.

BRIDGES has been detained since his arrest on October 12, 2007.

This case was investigated by the Federal Bureau of Investigation and was prosecuted by Senior Litigation Counsel Richard J. Schechter.
http://newhaven.fbi.gov/dojpressrel/2008/nh102808.htm

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