Commissioner Downing Seeks to Assist Lear Capital Investors

csimt 2022, Press Release, Securities

Commissioner Troy Downing is seeking to identify Montanans who invested in precious metals and coins purchased from Lear Capital, Inc. CSI recently contacted 165 known investors in the state, encouraging them to provide information to help CSI better understand Lear Capital’s conduct while dealing with Montana investors.

“Our agency is looking closely into Lear Capital’s business practices to determine if state laws were violated. By contacting investors, our team can better assess Lear Capital’s sales tactics.” Commissioner Downing said, “If you invested with Lear Capital, contact our agency to discuss your investment with our team.”

Earlier this month, Lear Capital filed Chapter 11 bankruptcy and has been the subject of regulatory actions in New York and California for allegedly failing to disclose millions of dollars in high fees and commissions.

Information on these regulatory actions in other states is available at:

https://www.lacityattorney.org/post/in-victory-for-consumers-feuer-secures-2-75-million-settlement-of-lawsuit-against-precious-metals

https://ag.ny.gov/press-release/2022/attorney-general-james-secures-6-million-lear-capital-ending-its-deceptive

Commissioner Downing strongly suggests investors file a claim in the US Bankruptcy Court case upon receiving information and instructions from the court. CSI is sending questionnaires to known investors regarding their interactions with Lear Capital. Investors who did not receive a questionnaire from CSI can contact the CSI Securities Division at 406-444-2040 or by going to CSIMT.gov.

Recently, Commissioner Troy Downing settled with Metals.com, a precious metals investment company, over allegations the company manipulated and lied to investors. Commissioner Downing later approved over $340,000 in restitution to victims from the Securities Restitution Assistance Fund. Read the full press release HERE