The Iowa Insurance Division today ordered Bruce Billesbach, of Blair, Nebraska, to cease and desist from offering or selling unregistered securities in Iowa, from offering or selling securities without being registered as an agent in Iowa, and from committing securities fraud. Billesbach is also ordered to pay $100,000 in restitution, $20,000 in civil penalties and $5,508.50 in investigation and prosecution costs after committing securities fraud.


“It’s important for Iowans to always double-check to make sure both the person and products they are investing with are properly registered,” Iowa Insurance Division spokesman Chance McElhaney said. “If it sounds too good to be true, it is. The majority of the scams we see involve either unregistered sellers or products, and as seen in cases like this one, fraudsters may attempt to use an existing relationship to help scam the victims.”

Iowans should visit https://iid.iowa.gov/finding-a-licensed-securities-agent-or-investment-adviser to double-check before investing. Iowans can learn more about protecting themselves and their savings athttps://www.iowafraudfighters.gov.

Iowans are encouraged to contact the Iowa Insurance Division if they need assistance at https://iid.iowa.gov/contact or 515-281-5705.



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