Frederick Eugene Monroe Jr. (CRD# 2457010) has been charged with first-degree
money laundering, three counts of second-degree grand larceny, and scheming
According to the allegations, Monroe convinced his investment advisory
clients to send him personal checks that he said would be placed in bonds
for retirement. Instead, the criminal complaint claims, he used this money
to pay back earlier investors and for personal expenses such as his mortgage
and airline tickets.
The allegations state that Monroe carried out his scheme from January 2008
until April 27, 2015 while he was a broker registered with Voya Financial
Advisors, Inc. According to the criminal complaint, Monroe has already
admitted that he did not reinvest some of his clients’ money as
promised (by placing the money in bonds for retirement). Investigators
claim that out of his 100 or so clients, he proposed retirement offers
to more than ten of them.
Capital Financial Planning’s website no longer features information
about Monroe, and when a judge asked Monroe at his arraignment whether
he was employed, Monroe answered that he was
formerly employed at Capital Financial Planning in Guilderland, New York.
Although the Assistant Attorney General on the case stated that there were
at least a dozen victims of Monroe’s alleged Ponzi scheme, the complaint
only listed $1 million stolen, which is the total amount listed as stolen
from three of the alleged victims.
If you invested with Frederick Monroe of Capital Financial Planning/Voya
Financial Advisors, Inc. and lost money, we invite you to contact a securities
arbitration lawyer at Meyer Wilson today to discuss your legal rights
and options. We have been helping investors recover their losses since
1999. Get in touch with us for a
free review of your case.