Missoula man sentenced for illegal securities sale

2014-07-22T08:00:00Z 2014-07-23T07:22:11Z Missoula man sentenced for illegal securities saleThe Associated Press The Associated Press
July 22, 2014 8:00 am  • 

HELENA — A former state lawmaker who pleaded guilty to selling securities in Montana without a license has been given a six-year deferred sentence and ordered to repay his victims the nearly $336,000 they lost.

District Judge Mike Menahan sentenced William R. Nooney of Missoula last week in Helena. Nooney was charged last September and pleaded guilty in April.

Prosecutors allege clients invested nearly $459,000 in securities that Nooney was not registered to sell and that were not registered with the state.

Nooney was elected to the state Legislature in 2006 and 2008. The securities were sold between February 2008 and April 2009.

Attorney Milt Datsopoulos did not return a phone call seeking comment on Monday. However, when the charges were filed, Datsopoulos said they were based on Nooney's failure to meet certain technical requirements and that he did not intend to violate any laws.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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