More Fraud Charges Against Bonners Ferry Man

csimt In The News

By: Scott Shindledecker

Additional charges have been filed by Montana state prosecutors against a Bonners Ferry man who operated a financial services in Troy.

Kip Hartman, 35, has been charged in Montana 19th Judicial District Court with multiple felonies related to the sale of annuities to Libby and Troy residents, including exploitation of an older person…

Hartman originally faced four felony charges in Montana, including conducting insurance transactions without a license, transacting business as an investment advisor without a license, securities fraud, and exploitation of an older person.

In a court filing from Sept. 12, a second count of exploitation of an older person was filed as well as witness tampering, and deceptive practices were filed.

The maximum prison time for each charge is 10 years, with the potential for up to $180,000 in fines if convicted of all seven charges…

According to court documents filed by Special Lincoln County Attorney for the State of Montana Brett Olin, Hartman is not licensed in Montana to provide the services he offered, and the products he sold were signed by his wife, Ginny Hartman.

According to the temporary order to cease and desist from Deputy State Auditor Kristin Hansen, Ginny Hartman — the wife of Kip Hartman — has been ordered by the auditor’s office to cease “from engaging in further acts or activity wherein the respondent acts in violation of the insurance code.”…

According to court documents, an investigation into Hartman began in August 2018 by the Montana State Auditor, Commissioner of Securities Insurance. The investigation began after the auditor’s office received a complaint that Hartman was selling insurance products without a license and having Ginny Hartman sign them.

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