Crime & Safety
Fredericksburg Investor Indicted on Federal Fraud Charges
James Ashby Moncure faces up to 200 years in prison after allegedly using nearly $9 million in investment funds on day-traded stocks.
A Fredericksburg-area real estate investor could face a 200 year prison sentence and a $4 million fine after allegedly misappropriating millions of dollars in investors’ money for a proposed office park in Sterling.
James Ashby Moncure, 42, is charged with eight counts of wire fraud, two counts of mail fraud and two counts of engaging in unlawful monetary transactions.
From before Jan. 2010 through March 2014, Moncure solicited more than $9 million in investment funds to develop the Quantico Corporate Center adjacent to Marine Corps Base Quantico in Stafford County, according to the U.S. attorney’s office. The indictment alleges Moncure spent the overwhelming majority of investors’ money on the day-trading of stocks and other unauthorized purposes.
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Moncure’s case was investigated by the FBI’s Fredericksburg Field Office, Internal Revenue Service-Criminal Investigations, and U.S. Postal Inspection Service. Assistant U.S. Attorney Michael Gill is prosecuting the case. No court date has been set.
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