Jail for man behind US R22 Ponzi scheme

A 68-year-old man from St. Louis, Missouri, has been sentenced to prison for orchestrating a Ponzi scheme involving the trade of ozone-depleting R-22 refrigerant. Robert F. Rothluebbers was convicted of wire fraud after admitting to running the scheme from October 2014 to May 2017, during which he defrauded unsuspecting investors of $350,000.

Rothluebbers solicited investments, promising to use the funds to purchase R-22 refrigerant in bulk at discounted prices, with the intention of reselling it at a 50% profit. He also claimed that the gradual phaseout of R-22 would further increase profits for investors.

During this period, Rothluebbers convinced at least four individuals to invest in his scheme, signing written agreements to purchase specified quantities of refrigerant at certain prices. However, instead of using the funds as promised, Rothluebbers diverted the money for personal purchases and to pay relatives. 

Additionally, he kept the scheme afloat by using money from new investors to pay earlier ones. When they began asking for their money back, Rothluebbers fabricated excuses, claiming that funds were frozen by his bank or the IRS.

Many of Rothluebbers’ victims were semi-retired or living on fixed incomes, and his deceptive scheme not only caused them financial hardship but also forced them to incur significant legal fees as they desperately tried to recover their investments through civil lawsuits—unfortunately, despite their efforts, most of the funds were never returned.

Rothluebbers pleaded guilty to wire fraud in September 2024 and was sentenced to 14 months in prison on January 20, 2025. Following his prison term, he will serve three years of supervised release and was also ordered to repay $287,000 to the victims of his scheme. 

The case, investigated by the FBI and prosecuted by the Assistant U.S. Attorney Jonathan Clow culminated in his conviction.