January 31, 2013
State logs $1.2M in securities settlements
Maine's Office of Securities ordered nearly $1.2 million in restitution and penalties in 2012 in response to securities law violations.
According to a press release from the office, the total included $770,000 of a $11.6 million settlement with the Chicago-based Bankers Life and Casualty Co. and the conviction of a New Hampshire stockbroker who duped an Aroostook County couple out of $195,000.
Overall, the office ordered nearly $862,000 in monetary penalties and $320,000 in restitution and recorded 2,281 licensed firms and 96,653 individuals licensed with the state Office of Securities in 2012.
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