News

Montana firm loses $18 million to Madoff scheme

At least 33 individuals tied to a Montana-based investment business lost at least $18 million in the Bernard L. Madoff Ponzi scheme.

"Unfortunately, yes, we now know there are victims in this state," said Lynne Egan, chief of securities examinations/ licensing with the Montana Auditor’s Office.

Egan received a call this week from an investment adviser licensed in Montana to report the loss. She declined to name the victim or his clients. The names will become public if the matter is handled in court.

By JO DEE BLACK • Tribune Business Editor

Full Story: http://www.greatfallstribune.com/article/20081231/NEWS01/812310302/1002/rss

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