Ponzi Scheme

This week, 62-year-old Richard Brant was sentenced after a court in Miles City found him guilty of running a Ponzi scheme that took advantage of 18 Montanans.

March 3 is the birthday of Charles Ponzi, the pioneer of the con that defrauded investors out of millions of dollars in the 1920s.

A man convicted of running a scheme that bilked $4 million from more than 140 investors is asking the Montana Supreme Court to dismiss his case or give him a new trial because of prosecution delays and denial of access of a computer he says he needed for his defense.

Montana Securities Commissioner Monica Lindeen has filed an action to immediately prevent a Florida man and his company from luring more Montanans into a scam.

On Wednesday, December 11, a Bozeman jury found Richard Reynolds of Belgrade guilty of six felony charges for bilking 141 victims out of $5.4 million through investor theft and running a massive Ponzi scheme.