If you invested with stockbroker Frederick Monroe, formerly of Voyal and Capital Financial, please call 1-866-817-0201 for a free consultation.
Frederick Monroe of Queensbury, NY, and senior vice president financial advisor while formerly employed with Voya Financial and Capital Financial Planning, pleaded guilty to a multiple of financial offenses in state court Albany, NY. His sentencing will be February 16, 2016.
Monroe is accused of running a Ponzi scheme where he would have investors draft checks to him personally purportedly for a series of retirement investments. The funds would then be used to pay other investors and personal expenses of Monroe such as mortgage payments.
The criminal activity stretched from 2002 until May 2015. He stole approximately $1 million from investors seeking to save money for their retirement.
The criminal complaint stated that Monroe “admitted that he did not reinvest the monies as promised, but instead used investor monies to return principal to earlier investors, to pay personal expenses and to maintain the social and professional lifestyle to which he became accustomed.”
The sentence for Monroe is anticipated to be between 3 and 16 years.
Our firm has help investors victimized by similar crimes obtain financial recovery. Please call the number above for a free consultation.
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