December 23, 2015- Queensbury, NY
The TimesUnion reports that Voya Financial is repaying former clients of Queensbury stock broker Frederick E. Monroe.
Monroe, who worked out of the offices of Capital Financial Planning at Stuyvesant Plaza in Guilderland, pleaded guilty to money laundering and grand larceny according to the press release.
According to the TimesUnion, Monroe was operating a classic Ponzi scheme and faces up to 16 years.
FINRA records indicate that Monroe was registered with Voya Financial from 2/2006-6/2015.
Voya Financial Advisors is based in Des Moines, Iowa and has over 1,500 branch offices and ove 2800 registered representatives.
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