As Montana victims of the Madoff scam and other investment schemes continue to emerge, Montana State Auditor Monica Lindeen will meet with members of the Montana delegation in Washington D.C. this week to discuss the effects of the financial crisis on Montana investors. Lindeen says the meetings will help ensure that any regulatory reform benefits the Main Street Montana investors who look upon Wall Street, regulators, and lawmakers to help them build and safeguard their financial security.
State Auditor Monica Lindeen announced today that a Kalispell court has upheld the Montana State Auditor’s office order fining a Kalispell man $80,000 for victimizing two elderly women in northwestern Montana. The Eleventh Judicial District Court in Kalispell upheld the Auditor’s order fining former Banker’s Life insurance agent Martin O. Bower. The order also bans Bower from becoming licensed to sell insurance for five years, and bans him from seeking any securities registration or licensure.
A proposal by State Auditor Monica Lindeen, would help protect Montana investors from what the North American Securities Administrators’ Association (NASAA) calls one of the top 10 investment scams in the country.
State Auditor Monica Lindeen, Superintendent of Public Instruction Denise Juneau and Attorney General Steve Bullock announced today that they will donate the pay raises they are scheduled to receive under Montana statute to charity. Under Montana law the salaries of statewide elected officials are tied to the salaries of their counterparts in neighboring states.