Securities Case Results in $1.2 million in Fines and Restitution

csimt In The News

By: Peter Christian

Securities and Insurance Commissioner Matt Rosendale announced on Wednesday that a recent fraud case has resulted in over $2 million in fines and restitution fro the New York brokerage firm of Alexander Capital and two of its employees.

Rosendale outlined the facts of the case from his office in Helena.

“We worked with the federal Securities and Exchange Commission to resolve this case that involved two Montanans who live in Townsend and Chester,” said Rosendale. “Both were victims of fraudulent and unethical financial practices of Alexander Capital salespersons. Alexander Capital and its salespersons engaged in the unethical and fraudulent practices of unauthorized trading, excessive trading, and unsuitable trading against the two Montanans.”

Rosendale outlined the restitution paid to the two individuals who were scammed by this firm.

Read more at KGVO