The U.S. Securities and Exchange Commission (SEC) has expanded its legal actions against individuals involved in a significant investment fraud case centered around Royal Bengal Logistics (RBL), a Florida-based trucking and logistics firm. Ricardi Celicourt, 40, residing in Coconut Creek, and Brisly Guillaume, 39, from Boynton Beach, were named in a lawsuit filed by the SEC in the U.S. District Court for the Southern District of Florida.
The SEC alleges that Celicourt and Guillaume participated in an unregistered securities offering that fraudulently raised nearly $109 million from approximately 1,500 investors over a period spanning from April 2021 to June 2023. Both individuals, despite not being registered brokers or associated with a registered broker-dealer, reportedly played pivotal roles in selling investment opportunities offered by RBL.
Court documents indicate that investors, predominantly Haitian-Americans, were lured into investing substantial sums in RBL through various programs promising high returns. These included short- and long-term investment options requiring minimum investments ranging from $25,000 to $60,000. Additionally, RBL offered specialized programs for trailers and trucks, supposedly earmarked for fleet expansion.
The SEC’s complaint asserts that Celicourt, serving as RBL’s vice president of business development and investor relations, and Guillaume, as director of business development and investor relations, received substantial transaction-based bonuses totaling approximately $1.3 million. This compensation was allegedly tied to their roles in perpetuating what the SEC describes as a Ponzi-like scheme.
Royal Bengal Logistics, which had previously been granted operating authority by the Federal Motor Carrier Safety Administration, saw its authority revoked in August 2023 following SEC intervention. The company, touted as a profitable venture to investors, purportedly operated at a loss, utilizing new investor funds to make payments to earlier investors, characteristic of a Ponzi scheme.
The SEC’s action against Celicourt and Guillaume is part of a broader crackdown on fraudulent investment schemes targeting vulnerable communities. The case underscores the SEC’s commitment to protecting investors and holding accountable those who engage in unlawful securities practices.
The defendants face charges including violations of securities registration and broker-dealer registration provisions, with legal proceedings set to unfold in federal court as the SEC seeks remedies and penalties for the alleged misconduct.
