John Montague—Financial Fraud, Wire Fraud
John Montague Allegedly Defrauded Clients of More than $900,000 by Having Them Write Personal Checks Payable to One John Montague, Which He Siphoned for Personal Use
John Montague, former Gloucester County, New Jersey-based financial advisor, allegedly defrauded his clients of more than $900,000 by inducing them to write investment checks payable to one John Montague that he siphoned for personal use, according to Documents released by U.S. Attorney Paul J. Fishman and currently under review by attorneys Joe Peiffer and Alan Rosca.
John Montague, a former Gloucester County, New Jersey-based financial advisor, was purportedly licensed to sell mutual funds, variable annuities, and insurance premiums but at no time was he licensed to sell corporate or municipal securities, direct participation programs, or options, according to Court Documents from the case.
John Montague allegedly described the investment vehicles to his clients as guaranteed investments that promised a rate of return of approximately six percent, according to FBI Documents. The Peiffer Rosca Wolf securities rights lawyers are currently investigating John Montague and his alleged investment scheme.
John Montague Allegedly Defrauded Clients by Soliciting and Inducing them to Purchase Investment Vehicles that Montague Knew he Could Not Sell
John Montague, 60, engaged in an investment scheme by allegedly defrauding his clients by soliciting them to purchase investment vehicles that Montague knew he could not sell, according to Documents released by U.S. Attorney Paul J. Fishman and currently under review by attorneys Joe Peiffer and Alan Rosca.
Finally, John Montague allegedly instructed his clients to make their investment checks payable to him, deposited them into his personal bank accounts, only periodically distributing dividend checks to maintain client confidence, FBI Documents report.
As a result of his behavior, U.S. District Judge Noel L. Hillman has sentenced Montague to three years of supervised release and ordered him to pay $788,716 in restitution, according to statements from U.S. Attorney Paul J. Fishman.
Securities Rights Lawyers Investigating
The Peiffer Rosca Wolf securities rights lawyers often represent investors who lose money as a result of alleged investment fraud and schemes. They are currently investigating John Montague for allegedly running an investment scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of John Montague’s alleged investment scheme may contact the securities rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.