Downing seeks to assist capital investors
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HELENA — Commissioner Troy Downing is seeking to identify Montanans who invested in precious metals and coins purchased from Lear Capital, Inc. The Commissioner of Securities and Insurance (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.
Commissioner Downing strongly suggests investors file a claim in the U.S. 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 online to CSIMT.gov.
