Alleged Hurricane Katrina Investment Fraud Scam Dupes Montana Investors
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.