Westport resident Barton Stuck has been sentenced to 12 months and one day of imprisonment followed by three years of supervised release for defrauding investors and making false statements to the U.S. Securities and Exchange Commission (SEC).
Stuck controlled eight venture capital endeavors known collectively as the “Signal Lake entities,” focused on investing in technology companies. According to the charges brought against him, Stuck misrepresented the financial health and prospects of the entities and their investments to his investors.
His actions were confirmed by an undercover FBI agent posing as a prospective investor.
Stuck also made false statements in forms filed with the SEC in 2016 and 2017, including the lie that one of the Signal Lake entities had a gross asset value of $145 million.
Stuck pleaded guilty in October 2018 to one count of wire fraud, one count of engaging in illegal monetary transactions, and two counts of making false statements to the SEC. He has been free on a $100,000 bond and is scheduled to report to prison on June 24.
