Bozeman Businessman Levied $40,000 in Fines [AUDIO]

On Thursday, Commissioner of Securities and Insurance Monica J. Lindeen fined Bozeman resident Scott Wacker and his company, Funky Shark, $40,000 for illegally selling investment opportunities.

Commissioner spokesman Lucas Hamilton says Wacker also agreed to pay back more than $834,000 to investors to resolve a restraining order Lindeen's office filed against him in October. The restraining order stopped Wacker from soliciting new investors or spending any of the investment money he had already raised.

Last September, Wacker began recruiting investors for his penny-auction website, FunkyShark.com. By the end of October, Wacker had raised over $1 million from investors across the world.

Commissioner of Securities spokesman Lucas Hamilton