Lindeen Files Order Against Potential Scam

csimt 2014, Press Release, Securities

Montana Securities Commissioner Monica J. Lindeen filed a temporary cease and desist order on Wednesday against TelexFREE, a Voice over Internet Protocol (VoIP) sales program that Lindeen’s office suspects may be a pyramid scheme that has already cost Montanans $70,000.

Lindeen Orders Firm to Repay Montanans $262,000

csimt 2013, Press Release, Securities

Montana Securities Commissioner Monica J. Lindeen has ordered New York City-based Chelsea Financial Services to pay eight Montanans more than $260,000 after alleging that one of the firm’s salespeople made hundreds of inappropriate transactions from their investment accounts to generate commissions for himself.

Funding Secured to Aid Scam Victims

csimt 2013, Legislature, Press Release, Securities

Governor Steve Bullock has signed into law a bill providing ongoing funding for the Securities Restitution Assistance Fund, a pool of money that helps victims of investment fraud get back on their feet. The legislation sponsored by Rep. Duane Ankney (R-Colstrip) at the request of Montana Securities Commissioner Monica Lindeen, helps victims of Ponzi schemes, pyramid schemes and other investment fraud recover a portion of what they lost.