Montana Scam Victims Get Unexpected Good News After Losing Money

Montana Scam Victims Recover More Than $1 Million After Fraud Cases

Every day, scammers are looking for their next victim, and unfortunately, people in Montana are still falling victim to their schemes.

But this week, there was some good news.

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Federal Authorities Recover Money From Multiple Montana Fraud Cases

Federal authorities announced they have recovered more than $1 million from convicted fraudsters connected to Montana, according to reporting from the Billings Gazette.

The money came from several different cases, including a scam targeting an elderly Joliet man, a fake investment scheme, and a case involving a former dairy cooperative manager who stole more than $1 million.

The case involving the 74-year-old Joliet man who was convinced he was talking with Federal Trade Commission agents, is one of the most troubling. The scam eventually led to him losing around $182,000 after he withdrew savings and cashed out investments.

Thankfully the person responsible was sentenced to more than two years in prison and ordered to repay the money.

Fraud Cases Continue Rising Across Montana

In another case, federal officials recovered hundreds of thousands of dollars from a former Montana resident who convinced 14 people to invest in a fake private portfolio that was actually just his personal bank account.

While some of these cases happened years ago, federal authorities can continue collecting restitution long after a conviction.

And officials say fraud continues to be a growing problem, both here in Montana and across America.

How Montana Residents Can Protect Themselves From Scams

According to data from the United States Sentencing Commission, fraud and embezzlement cases made up about 6% of federal sentencings in Montana in 2020. Within five years, that number had nearly doubled to 11%.

The message from officials is pretty simple: scammers aren't going to stop, and the best defense is knowing the warning signs before it's too late.

LOOK: The biggest scams today and how you can protect yourself from them

Using data from the BBB Scam Tracker Annual Risk Report, Stacker identified the most common and costly types of scams in 2022.

KEEP READING: Don't Answer Calls from These 10 Area Codes - They're a Scam

Those who are in the know about telephone and identity theft scams say these area codes produce the most problem calls for their clients. Unless you personally know someone who might be calling from one of the following area codes, you might want to let that phone call go unanswered.

Gallery Credit: Bruce Mikells