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Aug

03

Boston Hedge Fund Manager Arrested and Charged With Ponzi Scheme

By Tony Seruga

Raymond Montoya allegedly defrauded investors in his RMA fund
He was released on $100,000 bail and is in plea negotiations

Boston-area hedge fund manager Raymond Montoya, who led the RMA Strategic Opportunity Fund LLC, was arrested and charged by federal prosecutors with running a Ponzi scheme.

The federal charges on Wednesday followed a civil lawsuit in June in which the Massachusetts Securities Division claimed Montoya committed securities fraud when he told investors that he had $5 billion of assets in his fund in 2015. In sworn testimony, he said the fund’s high-water mark was about $20 million…

Boston Hedge Fund Manager Arrested and Charged With Ponzi Scheme

Categories : Hedge Funds

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