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Montana is one of four states with a restitution fund for victims of security fraud

CSI Building
Posted at 5:21 PM, Jul 05, 2024

HELENA — Montana is one of four U.S. states with a restitution fund for eligible victims of security fraud.

The Federal Trade Commission says that in 2023, "consumers reported losing more than $4.6 billion to investment scams nationwide."

While most of the time, the money is gone for good, Montanans can find help through the "Lynne Egan Memorial Securities Restitution Assistance Fund," previously known as the "Securities Restitution Assistance Fund."

Lynne Egan was a long-time Deputy Securities Commissioner who lost her battle with breast cancer.

The fund helps victims of investment fraud recover a portion of the lost money when full restitution is not possible.

The Commissioner of Securities and Insurance (CSI) says the money comes from "fees paid by registered firms doing business with Montana investors and from settlements entered into by the CSI Securities Division."

You can find more information about the fund here.