Montana State Auditor Monica Lindeen ordered a Florida man to stop selling unregistered medical discount cards in Montana. Companies selling medical care discount products are required to obtain a certificate of registration from the Montana Department of Insurance before selling their products.
The state-based insurance regulatory system has been a constant in an otherwise erratic economic climate. That was the key message conveyed this week when Montana Commissioner of Securities and Insurance Monica Lindeen visited members of Congress to highlight the part of the regulatory system that has consistently worked.
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.
Today, Montana Commissioner of Insurance and Securities Monica J. Lindeen has taken legal action to protect Montana consumers from a firm selling bogus insurance. Lindeen’s office is seeking a permanent cease and desist order, fines, and restitution from a group called Consolidated Worker’s Association (CWA) of Delaware and an affiliated group, the National Alliance of Benefit Services Association (NABSA).
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.
Today Montana State Auditor and Commissioner of Insurance and Securities strongly praised Governor Schweitzer’s decision to sign House Bill 258 into law.
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.
As the tax filing deadline looms, the Montana state senate has passed a bill that would help small businesses save thousands on the cost of health insurance.