The Montana Supreme Court has upheld an $80,000 fine against a former Bankers Life and Casualty Co. agent in Troy who defrauded two elderly women.
The court affirmed the penalties imposed on Martin O. Bower in a news release recently issued by Commissioner of Securities and Insurance Monica Lindeen.
The Commissioner’s Office fined Bower $80,000 for violating the Montana Securities Act and banned him from becoming licensed to sell insurance for five years.
The agency also prohibited Bower from seeking any securities registration or a license.
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