If it is the same person, it would seem to me that if backgrounds were really checked at the DOI this may not have happened. I suspect the past administration had something to do with the dwindling of the DOI and now the department is a shell of its former self.
Like every thief, the agents that do this are plain stupid. Do they really think they won’t be caught? Maybe they should read the Insurance Journal and see how frequently this happens. I would guess that we seen at least 4 or 5 of these cases just in the last month.
Any relation to the Donald Chouinard who got busted in Montana for a separate scam? Its an unusual last name.
LPL Financial Corporation (LPL) will pay nearly $1.3 million in restitution to Montana investors and a fine of $150,000 to the State of Montana under a settlement announced today by Monica Lindeen, Montana Commissioner of Securities and Insurance.
The restitution and fine are the resoultion of claims involving the alleged illegal activity of a former LPL registered representative, Donald Chouinard, who allegedly operated a Ponzi scheme in the Kalispell area, and the alleged failure by LPL to supervise Chouinard.
I don’t think an ethics class can ever fix this type of behavior. You cannot teach integrity but it is nice to be awarded CE credit for taking the class.
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If it is the same person, it would seem to me that if backgrounds were really checked at the DOI this may not have happened. I suspect the past administration had something to do with the dwindling of the DOI and now the department is a shell of its former self.
Is he the reason every agent has to take ethics now? Not even sure thats an Ethics thing as opposed to a legal thing.
Like every thief, the agents that do this are plain stupid. Do they really think they won’t be caught? Maybe they should read the Insurance Journal and see how frequently this happens. I would guess that we seen at least 4 or 5 of these cases just in the last month.
Any relation to the Donald Chouinard who got busted in Montana for a separate scam? Its an unusual last name.
LPL Financial Corporation (LPL) will pay nearly $1.3 million in restitution to Montana investors and a fine of $150,000 to the State of Montana under a settlement announced today by Monica Lindeen, Montana Commissioner of Securities and Insurance.
The restitution and fine are the resoultion of claims involving the alleged illegal activity of a former LPL registered representative, Donald Chouinard, who allegedly operated a Ponzi scheme in the Kalispell area, and the alleged failure by LPL to supervise Chouinard.
Read more: http://www.insurancejournal.com/news/west/2009/10/30/104966.htm#ixzz10x2U7DXX
Looks like it’s all in the family.
I don’t think an ethics class can ever fix this type of behavior. You cannot teach integrity but it is nice to be awarded CE credit for taking the class.