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Written by 12:53 pm Blog, Securities Fraud Articles

Investigation involving Frederick E. Monroe Jr.

The White Law Group is investigating the alleged actions of Frederick E. Monroe Jr.

Eric T. Schneiderman, the Attorney General of New York State is charging Frederick E. Monroe Jr. Monroe and accusing him of diverting clients’ money for his own personal use, and to pay back investors he had previously defrauded.

Monroe has allegedly defrauded at least a dozen individuals by instructing investors to write checks to him personally and then depositing them into his personal operating account.

Prosecutors allege that based on Monroe’s false representations, just three of these investors gave over $1.26 million to Monroe. Monroe then diverted that money to his personal use and to further his scheme.

Monroe allegedly created false financial statements that he gave to clients and, when asked, would allegedly tell them that their money was being invested in bonds. Instead of investing, Monroe is accused of diverting investment money for his own personal use.

In the Attorney General’s complaint, Monroe is charged with fraudulently soliciting investments from three investors between 2008 and 2015. He is charged with one count of first degree money laundering, one count of first degree scheme to defraud, three counts of second degree grand larceny, and four counts of securities fraud under the Martin Act.

The Attorney General is still currently investigating Monroe.  The White Law Group is investigating the liability that Monroe’s employers may have for failure to properly supervise him.  Brokerage firms are required to properly supervise their agents and to ensure that they are complying with industry rules and standards.  When they fail to do so, the firms can be responsible for the resulting losses.

According to FINRA Broker Check, Monroe has been registered with Voya Financial Advisors since 2006.

If you suffered losses investing with Frederick E. Monroe Jr. and would like a free consultation with a securities attorney, please call The White Law Group at (312)238-9650.

The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, visit www.whitesecuritieslaw.com.

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