Former ANC Commissioner sentenced to 15 years & 8 months in prison for defrauding innocent investors

A former Advisory Neighborhood Commissioner, Robert L. Hall, Jr., has been sentenced to 15 years and 8 months in prison for operating a multi-million dollar Ponzi scheme that defrauded innocent investors of more than $747,000 over the course of almost three years, U.S. Attorney Jeffrey A. Taylor and Guy J. Cottrell, Inspector in Charge of the U.S. Postal Inspection Service, announced today. Hall, 33, of Washington, D.C., received his sentence earlier today before U.S. District Judge Henry H. Kennedy, Jr. for multiple federal fraud offenses. In March 2006, Hall, who served as the Ward 6C chairman of the Advisory Neighborhood Commission until September 2004, was found guilty by a federal jury of 10 counts of wire fraud, 6 counts of mail fraud, securities fraud, and first degree fraud in connection with the Ponzi scheme. Hall was also ordered forfeit $747,169 to the United States and ordered to pay restitution to his investor victims.

Hall owned and operated a company known as First United Financial Group (FUFG). FUFG’s offices were located at 240 Parker Street, NE, Washington, D.C. FUFG’s stated business objective was to solicit money from individuals in order to invest that money in certain District of Columbia real estate ventures and promise these individuals a specific rate of monetary return. Hall’s title was the Chief Executive Officer (CEO) and Managing Member of FUFG. As such, Hall had absolute authority over all FUFG bank accounts and business transactions.

As part of his job activities, Hall would directly solicit investors and make representations concerning guaranteed return of investor principal and promised rate of return. In his capacity as CEO and owner of FUFG, Hall had access to and signatory authority over all FUFG bank accounts and would make withdrawals and transfers on behalf of FUFG. Hall also delegated these activities to subordinates at FUFG.