Financial adviser facing new charges

YOUNGSTOWN, Ohio (WKBN) — A Trumbull County financial adviser accused of stealing thousands of dollars from an elderly woman is facing new charges thanks to local media coverage.

Orlando Montoya, 36, of Cortland, has been indicted by a Mahoning County grand jury on charges he stole $35,000 from a 92-year-old Austintown woman in 2012 when he worked for New York Life.

It’s not often that you turn on the news and realize your family has been the victim of a crime.

But that’s exactly what happened to Linda Davis, when she saw Montoya’s mug shot on our news last December.

“As soon as I saw it I knew that he had gotten her too. I just knew,” said Davis

Montoya was an insurance agent and financial adviser to Linda’s 93-year-old mother.

When Linda saw our story, Montoya had just been charged with stealing $50,000 from an elderly woman in Mineral Ridge.

In that case, the woman called Western Southern Life in Youngstown in 2011 to invest her money and she was put in touch with Montoya, who authorities said was supposed to invest her money into annuity and insurance policies. Instead, Montoya had the victim write out personal checks to him, which he deposited into his own bank account.

The theft went on for more than a year even as Montoya took a new job at New York Life Securities in Boardman. The woman’s son questioned Montoya about why they had not received statements regarding their investments, which led to the investigation by police.

Montoya has since had his had his license revoked.

“I was concerned and I called my mom right then and I called my brother and said we need to look into this” said Davis after she saw the story.

A year earlier, Montoya had encouraged Linda’s mom to set up an annuity.

But as Linda soon found out, he had her make the checks out to him, instead of his company, New York Life.

“Had she not trusted him and known him for eight years she would’ve never done that,” Davis sad.

She said her mom was from a different generation.

“When someone’s word was their word and you could trust their word. Today you can’t,” Davis said.

Linda’s parents worked for decades to earn the money they trusted to Montoya.

They were entrepreneurs and ran two small businesses.

“They worked hard all their lives to get to where they were. My dad’s been gone 15 or 16 years now and he made sure they had enough insurance and he had enough money put away to take care of her.

Now, a lot of that money’s gone. And they’re not sure if they’ll ever get it back.

“My mom’s, I don’t know what to say, stressed” Davis said.

Linda said she has just one question for Montoya:

“How could you, I  mean, how could you do something when she had so much confidence and so much admiration?,” said Davis.

As she and her family wait to see their once trusted adviser in court.



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