ATLANTA -- A federal judge has sentenced Hector Juan Montes, a municipal investment hanker convicted in April of embezzlement, to 14 months in prison and a $15,000 fine.

District Judge Dominick L, DiCarlo's sentence, entered on July 28, also orders Montes to pay $150,000 in restitution and serve two years of supervised release following his jail term, DiCarlo's clerk, Pauline Locascio, said yesterday.

Locascio said Monies has until Aug. 29, the day he is scheduled to report to prison, to make arrangements to pay the fine and restitution.

As spelled out in a plea-bargain arrangement April 15 before the U.S. District Court for the Southern District of New York, Montes assented to a single felony charge of defrauding Bronx-based Capital National Bank of New York in early 1990.

In a May 1993 indictment detailing the charge, prosecutors said Montes had sought a loan to pay off debts owed to Carmona Ferrand Montes Securities Corp. Montes, one of two founders of the New York City-based securities firm in 1988, left it to become a managing director of Miami-based Howard Gary & Co. in March 1990.

Montes and his wife, Daisy Rosario, were originally charged with a total of three felony counts in the 1993 indictment. In addition to the bank fraud count, each was also accused of conspiracy and misapplication of property belonging to an organization receiving more than $10,000 in federal funding.

As pan of the April 15 plea, the charges against Rosario were dropped, and Montes' charges were reduced to a single count. In return, Rosario agreed not to seek employment with the city of New York.

Monies, who was fired by Howard Gary & Co. in February, could not be reached for comment yesterday.

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