- Associated Press - Thursday, October 12, 2017

GREAT FALLS, Mont. (AP) - A Montana man has agreed to repay $20,000, plus interest, to two acquaintances who believed they were investing their money with a brokerage firm.

The Great Falls Tribune reports Bruce F. Davidson has agreed to plead no contest to fraudulent practices. He has a year to repay $15,000 to one person and 18 months to repay $5,000 to another.

State prosecutors say Davidson promised the investors 9 percent returns through his D.A. Davidson brokerage account. Davidson is the nephew of Ian Davidson, chairman emeritus at D.A. Davidson. Court records say he used the money to repay a debt to a cousin.

Officials with D.A. Davidson say he is not affiliated with the company.

Last month, a judge ruled Davidson and his architecture firm owes $170,000 to a property development company for back rent and court costs.


Information from: Great Falls Tribune, https://www.greatfallstribune.com

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