State Fund to Help Victims of Investment Fraud

Some of the people who were defrauded by a Polson businessman will get part of their money back because of a Montana law that helps victims of investment fraud.

The program was set up to help victims recover a portion of the money they lost when full restitution is not possible.

Authorities say at least half a dozen individuals and married couples were defrauded by John Cross, who pleaded guilty to wire fraud.

According to the Missoulian , the state has set aside about $186,000 in restitution. The money in the fund comes from fees paid by companies that register with the state to deal with investors.

Cross was sentenced to two years in prison and ordered to repay $1.5 million.

Reported by the Associated Press.