Restitution provided by state
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News from the State of Montana
HELENA — Montana Commissioner of Securities and Insurance Monica J. Lindeen on June 15 announced that six victims of scammer John “Jack” Cross will receive a total of about $186,000 restitution from the Montana Securities Restitution Assistance Fund. The Polson businessman was sentenced Feb. 19 and is currently serving a 24-month sentence in federal prison for wire fraud. He told victims he was putting more than $500,000 of their money into real estate and other investments, when actually he was using the money for his own personal benefit. Lindeen reminds seniors and their families to take steps to protect personal data and to be wary of any investment opportunity that promises large returns for little risk. If an offer is too good to be true, it probably is. People should also call the Commissioner’s office at 800-332-6248 to check whether an investment broker or financial advisor is licensed in Montana.
