Number of Multi-Level Marketing (MLM) companies registered in Montana more than doubles under amnesty period – State auditor looks to crack down on possible pyramid schemes
Seventeen multi-level companies took advantage of an amnesty offering from the state auditor’s office to come into compliance with state law and pay reduced fines.
The amnesty period ended Wednesday, and the companies that came into compliance had about 4,200 Montanans participating in their operations.
“This is a win for Montana consumers. By filing with our agency, we can review the company’s application and confirm that they are not running an illegal pyramid scheme,” state Commissioner of Securities and Insurance Troy Downing said in a press release this week. “… We will hold non-compliant companies responsible if they do not comply with Montana law.”
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