Meyer Wilson previously reported on
Frederick Eugene Monroe Jr. (CRD# 2457010) last July when he was charged
with three counts of second-degree grand larceny, scheming to defraud,
and first-degree money laundering.
Since our last report, the Financial Industry Regulatory Authority (FINRA)
has permanently barred former Voya Financial Advisors, Inc. broker Frederick
Eugene Monroe Jr. (CRD# 2457010) “from acting as a broker or otherwise
associating with firms that sell securities to the public.”
The criminal complaint stated that from January 2008 to April 27, 2015,
Monroe convinced investment advisory clients to send him personal checks
that he claimed would be placed in bonds for retirement. At the time,
he was registered with Voya Financial Advisors based out of Albany, NY.
Rather than place the money in the bonds for retirement, he allegedly
used the money from investors to pay back earlier investors, as well as
on personal expenses.
When Monroe failed to respond to a FINRA request for information, he was
permanently barred from acting as a broker.
Following that regulatory action, three separate customer disputes against
him that alleged he misappropriated funds were settled for a total of
$229,345. Prior to those three customer disputes, Monroe was subject to
12 separate customer disputes, all regarding misappropriated funds. Eleven
of the disputes have been settled for over $2.3 million.
If you lost money investing with former Voya Financial Advisors broker
Frederick Monroe Jr., contact our securities fraud attorneys at Meyer
Wilson today for a free case consultation in order to discuss your potential
claim. We handle our cases on a contingency fee basis, so you won’t
owe us any fees unless we help you recover your losses.