A Florida Trucking Company Raised $158 Million From 2,000 Investors by Promising 200% Monthly Returns – Here Is Exactly How It Worked and Why Every Small Carrier Needs to Read It

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Sanjay Singh founded Royal Bengal Logistics in Florida, fabricating a large trucking operation and raising $158 million from approximately 2,000 investors by promising 200% monthly returns in what turned out to be a Ponzi scheme. The case serves as a cautionary tale for small carriers about investment fraud in the trucking industry.

Sanjay Singh founded Royal Bengal Logistics, Inc. in 2018 in Coral Springs, Florida. He built a website that described a company with 250 employees, a fleet of over 200 semi-trucks and growing, and revenue of $1 million per month. He held annual investor banquets in hotel ballrooms. He posted a video of himself onstage announcing […] The post A Florida Trucking Company Raised $158 Million From 2,000 Investors by Promising 200% Monthly Returns – Here Is Exactly How It Worked and Why Every Small Carrier Needs to Read It appeared first on FreightWaves.