Idaho man charged with fraud, exploitation, insurance schemes in northwest Montana

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By: Seaborn Larson

State prosecutors on Tuesday filed charges against a 34-year-old Idaho man accused of violating multiple securities and insurance laws in handling money for residents of Libby and Troy.

Kip Hartman is charged with conducting insurance transactions and acting as an investment adviser without the proper licensure; securities fraud, and exploitation of an older person. If convicted, Hartman could be sentenced to a maximum 40 years in prison.

Hartman has pleaded not guilty to the charges, his attorney told the Missoulian on Wednesday…

Last month, a 69-year-old Troy woman told investigators with the Montana State Auditor, Commissioner of Securities and Insurance office of her experience with Hartman. She described how Hartman had instructed her to sell her father’s annuity, which would have earned her an inheritance of over $2 million dollars, and to purchase an annuity from Hartman instead, according to charging documents…

Special Assistant Attorneys General Brett Olin and Janell Williams have been deputized to prosecute the case in Lincoln County.

Read more in the Missoulian