Article From: "Don Seiffert"   Read full article

A Boston hedge fund manager pleaded guilty today to running a multi-million dollar Ponzi scheme in federal court in Boston on Wednesday.

Raymond K. Montoya, 70, of Allston, pleaded guilty to three counts of wire fraud, five counts of mail fraud, and two counts of conducting an unlawful monetary transaction. U.S. Senior District Court Judge George A. O’Toole Jr. scheduled sentencing for Jan. 22.

Montoya was first charged and arrested in August 2017 with running “a multi-million dollar Ponzi…