Jason Rodriguez, a former New York Police Department (NYPD) officer, pleaded guilty to conspiracy to commit wire fraud in connection with his role as Chief Operating Officer of Technical Trading Team, LLC, a company he founded in April 2020.
Rodriguez, 38, marketed the company as a forex investment fund, promising investors large returns and full control over the trading operations. He assured investors that he would manage risk, maintain a loss reserve account, and never risk more than 1% of assets on a single trade. However, these promises were ultimately false.
As losses mounted in forex trading, Rodriguez turned to a Ponzi-like scheme, using funds from new investors to pay returns to earlier investors. Between April 2020 and September 2022, Rodriguez solicited approximately $4.8 million from investors, with about $3.5 million still unpaid.
Before founding Technical Trading Team, Rodriguez served as an NYPD officer for seven years. He falsely claimed that his success in forex trading led to his departure from the force, a narrative promoted in the company’s marketing materials. His fraudulent activities left investors with substantial losses, leading to his guilty plea.
Rodriguez now faces consequences for his actions, and the case highlights the dangers of deceptive investment schemes.
