Stoltmann Law Offices is investigating Frederick Eugene Monroe Jr., who has been charged with first-degree money laundering, three counts of second-degree grand larceny, and scheming to defraud. Allegedly, Monroe convinced his investment advisory clients at Voya Financial, to send him personal checks that he said would be placed in bonds for retirement. Instead, he used the money to pay back earlier investors and for personal expenses such as airline tickets and mortgage payments. Monroe carried out his scheme from January 2008 until April 27, 2015 while he was a registered representative with Voya Financial Advisors Inc. Monroe admitted that he did not reinvest client money like he said he did and that he proposed retirement offers to more than ten out of 100 clients. Monroe was accused of running a ponzi scheme in which he allegedly stole $1 million from victims.
Monroe was registered with Robert W. Baird & Co. in Milwaukee, Wisconsin from July 1994 until January 2002, Northwestern Mutual Investment Services in Latham, New York from July 1994 until February 2006 and Voya Financial Services in Albany, New York from February 2006 until June 2015. He has three customer disputes against him, all of which are currently pending, according to his Financial Industry Regulatory Authority (FINRA) BrokerCheck record. He is not licensed in the industry. If you experienced financial losses on behalf of Frederick Eugene Monroe Jr., please call our securities law firm at 312-332-4200 for a free consultation with an attorney.
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