Montana Insurance Commissioner Monica J. Lindeen has ordered a North Dakota man to pay $168,000 in fines and restitution for selling fake surety bonds on the Fort Belknap Indian Reservation in north central Montana.
Montana Commissioner of Securities and Insurance Monica J. Lindeen will announce final resolution in a class-action lawsuit against Farmers Group, Inc., that spanned nearly a decade and affecting more than 160,000 Montanans. Lindeen will make the announcement at a press event Thursday, September 20, at the quarterly Montana Justice Foundation board meeting in Billings.
An insurance agent from Butte, Mont., has pleaded guilty to felony theft by insurance fraud for stealing more than $7,200 of his client’s premiums. Monica Lindeen, Montana’s Commissioner of Insurance, charged Jeremy Hoscheid with theft for embezzling premiums from seven of his clients.
Commissioner of Securities and Insurance Monica J. Lindeen today announced the first beneficiary of the state’s new securities restitution fund, a pool of money set up to help victims of investment fraud. Reece Cobeen of Plains, Mont., a victim of a hurricane relief investment scam, will receive $13,750.
A Bozeman-area man faces up to 200 years in prison for allegedly setting up an elaborate investment scam that swindled at least 140 victims from 21 states and 6 countries out of more than $5 million. Richard Reynolds is wanted on 20 felony counts ranging from embezzlement to operating a Ponzi scheme.
Following the Federal Reserve’s announcement that interest rates are expected to remain low until at least late 2014, Montana Commissioner of Securities & Insurance Monica J. Lindeen today cautioned investors to beware risky or outright fraudulent investments promising higher yield or returns.
With the New Year and tax season just around the corner, Commissioner of Securities and Insurance Monica J. Lindeen has reached out to certified public accountants across the state by providing a copy of the new documentary, Gold Diggers: Investment Fraud in the Treasure State, and a handout highlighting ten common warning signs of securities fraud to more than 1,600 certified public accountants.
Commissioner of Securities and Insurance Monica J. Lindeen will join actor Bill Pullman to premiere her new documentary about investment fraud in Montana on Monday, Oct. 3 at the Myrna Loy Center in Helena. The documentary, Gold Diggers: Investment Fraud in the Treasure State, tells the story of two of Montana’s most infamous investment scams.
Commissioner of Securities and Insurance Monica J. Lindeen today announced that Terry Parks was found guilty on three counts of investment fraud in Missoula County District Court. Parks, a former Missoula resident, sold $55,000 worth of phony investments under the guise of helping victims of Hurricane Katrina.
Commissioner of Securities and Insurance Monica J. Lindeen announced today that Montana’s securities restitution fund has grown to more than $200,000 with voluntary and court-ordered contributions from perpetrators of securities fraud and the companies that employed them.