Arthur L. Heffelfinger, 63, of East Helena, Montana, has pleaded not guilty to running a Ponzi-type investment fraud scheme that allegedly bilked investors out of some $2 million. Heffelfinger, through his company, KMS Financial Services, is accused of operating a fraudulent pyramid promotional investment scheme, theft and exploitation of an older person, taking investment funds for his own personal use. According to the criminal complaint, from February 2001 through September 2009, Heffelfinger is alleged to have taken $2.02 million from about 20 clients, whom he still owes a total of $965,500, not including interest. His trial is scheduled for April 26th.
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