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Frederick Monroe Jr. Permanently Barred by FINRA

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.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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