A Bozeman man has been banned from the securities business in Montana and ordered to pay more than half a million dollars in restitution to victims of an international securities fraud scheme.
A multi-level marketing scheme selling bogus investment opportunities in Montana has been shut down. Commissioner of Securities and Insurance Monica J. Lindeen today issued a Cease and Desist Order against ShareValue, Inc. and Richard Reynolds of Bozeman.
Montana Commissioner of Securities and Insurance Monica Lindeen today announced a settlement agreement with RBC Capital Markets Corporation. In the agreement, RBC Capital Markets has agreed to return $9,875,000 to Montana residents who purchased auction rate securities from the firm, pay a $20,733.04 fine which will be deposited to the state’s general fund, and contribute $5,000 to the Investor Protection Trust, a non-profit organization, for the purpose of providing investor education to Montana consumers.
Montana Commissioner of Securities and Insurance Monica Lindeen says Merrill Lynch will return more than $38 million to Montana investors.
State Auditor and Commissioner of Securities and Insurance Monica Lindeen today sanctioned a San Francisco company whose unregistered securities schemes defrauded nearly $400,000 from Montana investors.
State Auditor Monica Lindeen today welcomed a Kalispell court ruling that again upheld the Montana State Auditor’s office order fining a Troy man $80,000 for victimizing two elderly women in northwestern Montana.
More Montana investors who lost millions in auction rate securities will be getting their money back. State Auditor and Commissioner of Securities Monica Lindeen today announced a major settlement agreement with Banc of America Securities LLC and Banc of America Investment Services, Inc. to return over $550,000 to Montana investors. Today’s agreement will settle an investigation alleging Banc of America misrepresented auction rate securities (ARS) to investors as safe, cash-equivalent products, even though the products faced increasing liquidity risk.
State Auditor and Commissioner of Securities Monica Lindeen today entered into a settlement with New York-based broker-dealer firm Strasbourger, Pearson, Tulcin, Wolff, Inc. and its Chief Executive Officer, Ronald Moschetta. The Securities Department of the Auditor’s Office alleged the firm and Moschetta transacted securities business with Montana investors during the past year without being properly registered in Montana.
Today Montana State Auditor and Commissioner of Securities Monica Lindeen announced that her office has filed a legal action against two Polson business owners alleging the men committed securities fraud and conducted a “Ponzi” scheme involving at least 100 investors with an aggregate investment of more than $14,330,902.
Montana State Auditor and Commissioner of Securities Monica Lindeen today sent a demand letter to AIG requesting information about the company’s finances and bonuses. Lindeen is asking her Securities Division to look into potential violations of Montana law, which specifically prohibits omission or misrepresentation in connection with the offer and sale of securities.