04 Sep Frederick E. Monroe Jr.— Alleged Ponzi Scheme
Frederick E. Monroe Jr Allegedly Orchestrated a $1.26 Million Ponzi Scheme, Soliciting Clients for Personal Checks that he Claimed Would Be Invested in Bonds for Their Retirement
Frederick E. Monroe Jr, the senior vice president of a financial planning firm based in Stuyvesant Plaza, Capital Financial Planning, has been with running a scheme that New York State prosecutors claimed allegedly duped investors out of more than $1 million, according to reports from New York Attorney General Eric. T. Schneiderman currently under review by attorneys Jason Kane and Joe Peiffer.
Frederick E. Monroe Jr., 59, was held on $300,000 bail after allegations surfaced that he solicited clients for personal checks that he claimed he would invest in bonds for their retirement, and that the money instead went to pay other earlier Monroe clients and his own credit card, according to said reports.
The Peiffer Wolf securities rights lawyers are currently investigating Frederick E. Monroe Jr. for allegedly orchestrating a $1.26 million Ponzi scheme.
Frederick E. Monroe Jr Allegedly Told Investigators that he Personally Dealt with 100 Clients’ Investments and Solicited More than 10 with Retirement Opportunities
Frederick E. Monroe Jr allegedly told investigators he personally handled about 100 clients’ investments and that he solicited more than 10 of them with retirement opportunities, according to reports from New York Attorney General Eric. T. Schneiderman currently under review by attorneys Jason Kane and Joe Peiffer.
In addition, said clients then give personal checks to Monroe in his name and he would then allegedly put the money into his operating account, according to said reports.
Furthermore, “(Monroe) admitted that he did not reinvest the monies as promised, but instead used investor monies to return principal to earlier investors, to pay personal expenses and to maintain the social and professional lifestyle to which he became accustomed,” according to a Criminal Complaint under review by attorneys Jason Kane and Joe Peiffer.
Securities Rights Lawyers Investigating
The Peiffer Wolf securities rights lawyers often represent investors who lose money as a result of alleged Ponzi schemes. They are currently investigating Frederick E. Monroe Jr for allegedly operating a Ponzi scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Frederick E. Monroe Jr for his alleged Ponzi scheme may contact the investment rights lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 585-310-5140.