Former Montana Stockbroker Pleads Guilty to Ponzi Scheme Charges

The FBI reports that Americans lose $40 billion every year to investment fraud. But that figure will not motivate anyone to act. It is a sterile number that does not communicate the humiliation, misplaced guilt, and real world consequences to the victims of investment fraud.

Angela Brandt of the Helena Independent Record has been following the story of Arthur Leroy Heffelfinger (Heffelfinger) a former stockbroker with KMS Financial Services Inc. (KMS).  Last week Brandt reported that Heffelfinger has pled guilty to two felony charges arising from the eight-year, $2 million Ponzi scheme he ran from his KMS office.  In her story about the guilty plea Brandt writes: (more…)

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