December 23, 2015- Albany, NY
The Albany TimesUnion reports that Queensbury stockbroker Frederick E. Monroe pleaded guilty to money laundering and grand larceny. According to the report, Monroe was operating a Ponzi scheme, using money from his brokerage firm clients to repay other clients and himself.
Monroe, who admitted stealing more than $1 million from clients, faces up to 16 years in prison. The Times Union also reports that Voya has already paid out over $1.4 million to affected customers.
According to FINRA records Monroe was registered with Voya Financial Advisors (formerly ING) from 2/2006-6/2015.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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