"According to court filings and the defendant's admissions, Rodriguez and his co-conspirator Edwin Carrion founded the Technical Trading Team (TTT) in the spring of 2020. Rodriguez had sole trading authority over the vast majority of the nearly $5 million raised from over 20 individual investors. Rodriguez and Carrion promised investors annual investment returns ranging from 18% to 24% and convinced them to invest based on a number of material misrepresentations."
"Though Rodriguez and Carrion promised investors that the Technical Trading Team would never expose more than 1% of the Technical Trading Team investors' funds to market risk at any given time, only to ignore that safeguard as well. Rodriguez also promised investors that TTT would not hold trading positions open overnight, which Rodriguez ignored on multiple occasions, including once holding a trade open from February 2021 until April 2022, resulting in a catastrophic loss of more than $150,000, representing approximately 12.61% of TTT's assets."
Jason Rodriguez and Edwin Carrion founded Technical Trading Team (TTT) in spring 2020 and raised nearly $5 million from over 20 individual investors. Rodriguez, TTT's chief operating officer, had sole trading authority and promised annual returns of 18%–24% while assuring safety measures. They misrepresented safeguards, including a pledge to limit market risk exposure to 1% and to avoid holding positions overnight. Rodriguez ignored those protections, once holding a trade from February 2021 to April 2022 that lost over $150,000 (about 12.61% of TTT assets). After trading losses depleted profits, Rodriguez used new investor funds to pay earlier investors, converting the operation into a Ponzi scheme. Rodriguez pleaded guilty to conspiracy to commit wire fraud and received a three-year prison sentence on Sept. 10.
Read at QNS
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