NEW YORK , Aug. 8, 2025 /PRNewswire/ -- The Easterly ROCMuni High Income Municipal Bond Fund (RMHIX) has recently lost about half its value, with its share price falling to roughly $2.95 . It is a small mutual fund that was being sold to retail investors as a "municipal bond fund," generally an indicator of a relatively safe, low-risk fund. An investigation by stockbroker fraud lawyer Jake Zamansky and his team has revealed that Easterly's fund was quite speculative, comprised of mostly low-rated "junk" bonds, many of which were not even issued by local governments but by small companies with ambitious projects that struggled to get off the ground.

Zamansky LLC's investigation found that financial advisors working for two large broker-dealers (Osaic Wealth and Stifel Nicolaus & Co.) are u

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