Raymond Montoya Charged with Running a Ponzi Scheme

Soreide Law Group is currently investigating the Raymond Montoya/ RMA Strategic Opportunity Fund LLC Ponzi scheme.
The Boston-area hedge fund manager, 69 year-old, Raymond Montoya, who had managed the RMA Strategic Opportunity Fund LLC, since 2009, was arrested and charged on August 2, 2017, by federal prosecutors with running a Ponzi scheme.
In a court hearing, the Assistant U.S. Attorney said Montoya had already agreed to freeze accounts he controlled, $6 million to $8 million in assets, and forfeit 10 vehicles which included three Ferraris and two Porsches.
According to a criminal complaint which was filed in Boston federal court, Raymond Montoya, operated RMA Strategic Opportunity Fund LLC, misused millions of dollars to pay for luxury vehicles, his son's mortgage, private schools for his children, and to repay earlier investors.
According to the U.S. prosecutors, Raymond Montoya committed mail and wire fraud by misleading his investors about the RMA Opportunity Fund’s performance. He allegedly diverted millions of dollars of investors’ money and used it for his own personal expenses.
Federal prosecutors accused Montoya of defrauding investors out of millions of dollars, nearly two months after the Massachusetts state regulators charged him with engaging in a Ponzi scheme.  According to the criminal complaint, four days after the state brought charges, Montoya allegedly met with law enforcement and admitted defrauding RMA investors. Massachusetts made the federal authorities aware of the case.
According to the complaint, Raymond Montoya told investors the fund had approximately $4 billion in assets under management and used proprietary software that helped predict stock price movements and was achieving positive results.  When in fact, Montoya managed less than $100 million and invested only a portion of the victims’ money.  Allegedly, Montoya made false account statements for the fund which incurred losses by 2012.
By 2015 and 2016 losses from the fund were substantial but Raymond Montoya allegedly told investors they were earning modest returns.
If you were a victim of Boston-based Raymond Montoya’s RMA Strategic Opportunity Fund Ponzi Scheme, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents our clients nationwide before FINRA and we operate on a contingency fee basis.  Let our years of experience work for you.