November 8, 2012
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CDJ STAFF
A North Dakota man has been fined $168,000 for selling fake surety bonds in Montana. Dennis Lyon, who has also gone by the name Robert Joe Hanson, took about $150,000 from two Montana tribes to issue a construction surety bond. Lyon was not licensed to sell bonds in Montana and, according to the article in Insurance Journal, the bonds “did not provide coverage for the projects.” Mr. Lyon is banned from the insurance industry in Montana. He still owes the state $490,000 for selling illegal bonds in 2007.