Mainebiz

W W W. M A I N E B I Z . B I Z 7 O C T O B E R 5 , 2 0 2 0 Maine joins federal lawsuit over investor fraud Maine joined a federal lawsuit to stop a precious-metal investment scheme that allegedly bilked $185 million from hundreds of investors nationwide, including Mainers who have invested over $700,000. Maine Securities Administrator Judith Shaw said her office has signed on to the complaint filed by the federal Commodity Futures Trading Commission and 29 other states in the U.S. District Court for the Northern District of Texas. e suit claims Los Angeles-based TMTE Inc. and six other corporate and individual defendants solicited "seniors and other vulnerable investors nationwide by tout- ing precious metals at grossly inflated prices that were not disclosed," according to a news release. At least 1,600 seniors and other investors nationwide were solicited in the scheme. e complaint requests the court order the defendants to cease sales activity, return money to investors, and stop defrauding investors and violating federal and state laws. e office of the Maine Attorney General is representing Shaw in the suit. N O T E W O R T H Y S T A T E W I D E The Office of Violence Against Women, an agency within the U.S. Department of Justice, awarded a total of $2.3 million to organiza- tions across the state to support rape crisis centers and assist victims of domestic violence, dating violence, sexual assault, and stalk- ing who are homeless or in need of housing assistance. Recipients included New Hope for Women in Rockland, in collaboration with Sanford Housing Authority and York County Community Action Corp., $515,000; Partners for Peace in Bangor, in collaboration with Piscataquis County Sheriff's Office, Millinocket Police Department, Millinocket Regional Hospital, Mayo Regional Hospital and Rape Response Services, $510,253; Caring Unlimited Corp. in Sanford, in collaboration with York County Sheriff's Office, $498,496 and $400,000 in collaboration with New Ventures Maine; and the state of Maine, $388,589. Maine Center for Disease Control and Prevention, in partnership with the Maine Office of Aging and Disability S T A T E W I D E After industry pleas, Mills lifts quarantine- or-test rule for Massachusetts visitors — And the Maine tourism industry sighs in relief UMaine will strip name of former president, eugenics backer from campus building — A wise step Nautical distancing: Pandemic revs up boat-rental business — And also the sale of boats, paddleboards, kayaks and so on Children's Museum & Theatre receives $500K pledge in final push toward $14M goal — Sometimes the hardest yards are the ones closest to the goal line Mainers may have been conned out of $700K, state says in federal lawsuit — People still falling prey to hard-sell tactics Portland's Lio Restaurant closing for good as owners press on with other ventures — Is this just the beginning of a restaurant shakeout? 51 jobs cut at Jay paper mill still reeling from April explosion — More bad news for the Jay mill and its workers C R E D I T S & D E B I T S 1-800-447-4559 | bathsavings.com PARTNER WITH A NEIGHBOR You have a vision to build something You have a vision to build something meaningful in the community, and we have meaningful in the community, and we have the experience to help make it happen. the experience to help make it happen. Custom lending solutions are here for you — Custom lending solutions are here for you — and so are we. Let's talk. and so are we. Let's talk. Mara Pennell Vice President, Commercial Lending MEMBER FDIC MEMBER FDIC EQUAL HOUSING LENDER EQUAL HOUSING LENDER Bath • Boothbay Harbor • Brunswick • Damariscotta • Falmouth • Freeport • Portland • South Portland • Yarmouth F I L E P H O T O / M A U R E E N M I L L I K E N

• Cover