BOISE -- A 4th District Judge has ordered two men and their businesses to pay $5 million for violating state investment rules.
The ruling was a win for the Idaho Department of Finance, which sued Jamison Potter, Adam Bentley and North American Capital Trust LLC, Pacific Partners LLC and Silverstone Equity Group LLC last year contending they sold fraudulent investments to Idaho residents.
The Idaho Business Review reports that in the lawsuit, the department said the men promised returns on investments by buying life insurance policies at a discounted rate, then selling those policies at a higher rate. But state officials said the defendants instead sent the money to Panama.
