Oct 15, 2015 1:43 PM
Federal charges announced in NH against Guatemalan businessman accused of defrauding investment adviser
CONCORD - Charges against a Guatemalan businessman accused of defrauding clients of as much of $9 million have been made public by the U.S Attorney's Office.
The Acting U.S. Attorney Donald Feith said he is unsealing fraud charges against Roberto Montano, also known as Jorge Roberto Montano Pellegrini. The charges of federal wire fraud relate to accusations that Montano mismanged funds entrusted to him by a Lebanon, N.H. investment adviser intended for investment in Guatemalan teak plantations.
Montano also is accused of diverting Guatemalan government subsidies intended for the teak plantations and mortgaging real estate assets held for the benefit of the investment adviser's clients without their knowledge or authorization.
According to Feith, Montano is presently a fugitive from justice and the Federal Bureau of Investigation is attempting to locate and apprehend him.
Guatemalan prosecutors have also announced charges against Montano based upon the same conduct.