Stoltmann Law Offices is investigating Raymond Montoya, a Boston, Massachusetts-based hedge fund manager who managed RMA Strategic Opportunity Fund (RMA) since 2009. Montoya was arrested and charged on August 2nd, 2017 with running a ponzi scheme. Allegedly, RMA misused millions of dollars to pay for luxury vehicles, including three Ferraris and two Porsches, his son’s mortgage, private school tuition, and to pay back earlier investors. He allegedly committed mail and wire fraud by misleading investors about RMA’s performance, and diverted millions of dollars of investor money to use on himself. Four days after Massachusetts brought charges against him, Montoya allegedly met with law enforcement and admitted to defrauding investors, whom he told he had $4 billion in assets under management and used proprietary software that helped predict stock price movements. In fact, Montoya managed less than $100 million and invested only a small amount of client money. He also made false account statements to cover up the losses sustained by the fund in 2012. Please call us today if you suffered losses with Mr. Montoya. We are Chicago-based securities attorneys who take cases on a contingency fee basis to recover losses for investors. The call is free with no obligation. 312-332-4200.
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