March 21, 2019

A hedge fund manager in Boston was sentenced to 14 years in prison for running a multi-million dollar Ponzi scheme from 2009 to 2017. Raymond Montoya, who ran RMA Strategic Opportunity Fund, LLC, was accused of misrepresenting the fund’s rate of returns to induce millions of dollars in investments from unsuspecting victims across three states, including family, friends, and acquaintances. Montoya only invested a portion of the money – the rest was diverted to other bank accounts and used to pay personal expenses. USAO MA

Tagged in: Financial and Investment Fraud, Misrepresentations, Ponzi Schemes,