Terry Parks, formerly of Missoula, Montana, has been found guilty of investment
fraud in relation to a Hurricane Katrina scam that took investors for
thousands of dollars.
According to officials, Parks offered promissory notes that he claimed
would offer a 24% return annually. Parks allegedly claimed these investments
were well-secured and the money would go toward rebuilding areas hit by
Hurricane Katrina. Unfortunately, neither Parks nor the investments were
registered in Montana, and it is alleged that Parks failed to disclose
information about risks to the investors involved.
Commissioner of Securities Insurance Monica Lindeen remarked, "This
case shows the great lengths con-artists will go to sell hard-working,
honest Montanans on a raw deal. To predators like Terry Parks, even a
heart-wrenching natural disaster like Hurricane Katrina is just another
tool to swindle investors out of their life savings. The jury's verdict
in this case should send a clear message that my office won't let
con-artists like Parks rip off Montanans and run away scot-free."
If you have been the victim of
Montana investment fraud, contact an experienced and professional FINRA lawyer with Meyer Wilson today.