Montana Court Upholds Penalties on Insurance Agent

The Montana Supreme Court has upheld an $80,000 fine against a former Bankers Life and Casualty Co. agent in Troy who defrauded two elderly women.

The court affirmed the penalties imposed on Martin O. Bower in a news release recently issued by Commissioner of Securities and Insurance Monica Lindeen.

The Commissioner’s Office fined Bower $80,000 for violating the Montana Securities Act and banned him from becoming licensed to sell insurance for five years.

The agency also prohibited Bower from seeking any securities registration or a license.