State & Region Briefs

Published: 3/22/2019 10:53:18 PM
Hedge fund manager gets 14 years for running Ponzi scheme

BOSTON — A Boston hedge fund manager who scammed millions of dollars from friends, family and other investors in what authorities say was a Ponzi scheme has been sent to prison for more than 14 years.

Federal prosecutors say 70-year-old Raymond Montoya used the money for personal purchases, including luxury cars and his son’s mortgage.

Montoya from 2009 until 2017 ran a pooled investment hedge fund called RMA Strategic Opportunity Fund, LLC. Prosecutors say he told investors the fund was earning substantial returns, when by 2014 it was sustaining losses.

Montoya, from the city’s Allston neighborhood, pleaded guilty in October to wire fraud, mail fraud and unlawful monetary transaction charges.

He was also sentenced Thursday to three years of probation and ordered to pay restitution in an amount yet to be determined.

WWII veteran, 94, finally gets high school diploma

SHREWSBURY — A 94-year-old World War II veteran has received his high school diploma — 74 years after he would have gotten had he not enlisted.

Paul Snow says he felt “naked” from all the attention he received Thursday during a ceremony at St. John’s High School, but says he always wanted to get his diploma. The Worcester Telegram & Gazette reports the Worcester native enlisted in the U.S. Navy a day before his 18th birthday in 1943, and was honorably discharged about three years later.

Democratic U.S. Rep. James McGovern and St. John’s High School worked together to award a diploma to Snow as a tribute to his service. Snow was awarded with an honorary diploma dated June 17, 1945.

From Associated Press




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