Frederick Monroe, 16-year Financial Advisor, Permanently Barred by FINRA

Fraud, misappropriation of funds, and criminal charges—this New York broker is in serious trouble.

The subject of numerous customer disputes, Frederick Monroe has been barred from associating with acting as a broker or otherwise associating with firms that sell securities to the public.

Frederick Monroe began his career in the securities industry in 1994 when he was employed by Robert W. Baird & Company in Milwaukee, Wisconsin. He was also employed by Voya Financial Advisors in Albany, New York, from February 2006 to June 2015. Before that, he was employed by Northwestern Mutual Investment Services in Latham, New York, from July 1994 to February 2006.

According to the FINRA’s reports, Monroe allegedly misappropriated funds while working at
Voya Financial. He was subsequently terminated from the firm after the complaints were made. Total damages were more than two million.

After being terminated and barred, things began to deteriorate even further for Monroe. On June 10, 2015, he was arrested and charged with stealing more than $1 million from investors. (According to allegations, Monroe fraudulently solicited clients to reinvest their retirement funds in what is likened to a Ponzi Scheme.)

If you were a client of Frederick Monroe or would like to learn more about the charges against him, you can view the FINRA report by accessing his BrokerCheck record, which is a complimentary service.

If you have lost money at the hands of a trusted advisor or are concerned that your broker may not be acting in your best interest, seek the services of an experienced securities attorney.

At Silver Law Group, our attorneys are leaders in the field of FINRA and securities arbitration. We represent individual and institutional investors across the United States that have lost money at the hands of a trusted financial advisor. Our services are provided on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. For more information, contact us for a complimentary consultation.