Stoltmann Law Offices is investigating Voya Finanancial Advisors (formerly ING Bank) and one of its former financial planner’s, Frederick E. Monroe Jr. Monroe was also associated with Capital Financial Planning, was arrested by the New York State Attorney General’s Office recently. He is charged with stealing over $1 million from investors. It is alleged that Monroe’s scheme lasted from 2008 until 2015 and that he fraudulently solicited his clients only to take their money and use it for personal expenses, after promising the clients he would invest their money in bonds. He also allegedly created false financial statements, which he then sent to his victims.
Frederick Monroe Jr. was registered with Robert W. Baird & Co. Inc. in Milwaukee, Wisconsin from July 1994 until January 2002, Northwestern Mutual Investment in Latham, New York from July 1994 until February 2006, and Voya Financial Advisors in Albany, New York from February 2006 until June 2015. He is not currently licensed to act as a broker or as an investment adviser, according to his Financial Industry Regulatory Authority (FINRA) BrokerCheck.
Monroe’s former firm, Voya Financial Advisors, may be responsible and liable for any investment losses you may have suffered at the hands of Frederick E. Monroe Jr. They had a duty to reasonably supervise him while he was employed with their firm, and because they did not, can be held accountable in the FINRA arbitration process. Please call our law offices in Chicago to speak to an attorney at 312-332-4200 if you believe you have a possible case against Monroe. The call is free with no obligation.