Fraud Files is where real Montana fraud cases meet true crime storytelling. Hosted by Adrienna Hines, each episode features Montana Commissioner of Securities and Insurance James Brown alongside investigators, law enforcement professionals, prosecutors, and industry experts as they take listeners behind the scenes of actual cases that have impacted Montanans and, in many instances, reached far beyond the state's borders.
From cryptocurrency schemes and investment fraud to insurance scams and financial crimes, Fraud Files unpacks how these cases unfolded, how investigators built them, and the red flags that could have prevented victims from falling prey. If you enjoy true crime with a purpose, this is a binge-worthy series of real cases, real investigations, and real lessons designed to help you recognize fraud before it happens to you.
What looked like a promising investment opportunity turned into a nearly $1 million loss.
In this episode, host Adrienna Hines sits down with Commissioner James Brown and criminal detective James Gunderson to break down the case of “R.P.,” a Montana man who was targeted by a sophisticated “pig butchering” scheme.
The scammers posed as representatives of a well-known investment firm, built R.P.’s trust and directed him to send money through wire transfers, Cash App and cryptocurrency. Fake investment websites showed his account growing to more than $3 million, but when he tried to withdraw his money, the story changed. His account was supposedly frozen, and the scammers demanded even more money to release it.
By the time it was over, R.P. had lost nearly $1 million, with hundreds of thousands of dollars moving through the account of another scam victim being used as a money mule.
Commissioner Brown and Detective Gunderson walk through how these schemes work, the warning signs that can reveal an investment scam, and what investigators are doing to help protect victims.
The lesson in this episode is clear: Stop. Drop. Report. If something doesn't feel right, stop what you're doing, drop communication and report it to authorities.
See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information.
22 Sept 2026
Fake Celebrity, Real Fraud
What happens when a familiar name, a social media message and the promise of a crypto investment collide?
In this episode of Fraud Files, host Adrienna Hines sits down with Commissioner of Securities and Insurance James Brown and special guest Jason Gunderson, a criminal detective out of Park County, to unpack a Montana case involving an Elon Musk impersonator, a supposed cryptocurrency investment called “Token X,” and more than $150,000 in losses.
They follow the scam from first contact through 28 cryptocurrency transfers, while Gunderson brings a law enforcement perspective to how these cases unfold, why they can be difficult to investigate, and the red flags that can help others avoid becoming the next victim.
Real case. Real money. And one very recognizable name that wasn’t who it seemed.
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31 Aug 2026
Seniors, Scams & Smart Decisions
It sounds like a movie plot we've seen before... fake authority, fear and urgency, and a scammer going after someone’s savings. All in the script, but the difference is this case is real and unfolded right here in Montana.
A 74-year-old woman is contacted by someone claiming to be with the FTC. She’s told her identity has been tied to serious crimes, instructed to buy gift cards and a burner phone, and pressured to move money out of her retirement account.
In this episode of Fraud Files, Commissioner of Securities and Insurance James Brown and Sidney Du Varney, one of the Investigator/Examiners on the case, breaks down how the scam unfolded, and the smart decisions that kept a $900 loss from becoming much more.
Seniors are frequent targets of fraud, but the tactics used in this case can work on anyone. Hear what raised the red flags, what finally exposed the scam, and the lessons we can all use to protect ourselves and those around us.
See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information.
14 Aug 2026
Fake Agents, Real Money & One Bitcoin ATM
A phone call. A fake FBI agent. A Bitcoin ATM. And more than $42,000 gone.
In this episode of Fraud Files, we examine how a 21-year-old Montana woman lost more than $42,000 after scammers posing as federal and local law enforcement convinced her she was connected to a serious criminal investigation.
Using personal information to make the threat believable, the scammers created fear and urgency, isolated her from friends and family, and convinced her to empty her bank and investment accounts and convert the money to Bitcoin.
The episode breaks down the warning signs, how scammers use fear and authority to manipulate victims, why cryptocurrency can make stolen money difficult to recover, and resources available to Montanans who fall victim to securities fraud.
See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information.
17 Jul 2026
Ikeda: Bail Money and Bad Decisions
What happens when someone entrusted with helping people out of jail instead uses that position for personal gain?
In this episode of Fraud Files, host Adrienna Hines is joined by Montana Commissioner of Securities and Insurance James Brown, with color commentary from Stacy Zinn, consultant and former DEA Resident Agent in Charge for Montana, to examine the case of Billings bail bondsman Louis Ikeda.
The discussion explores allegations that Ikeda reduced or covered bail amounts in exchange for sex, falsified bond records, and abused his position of authority over vulnerable women seeking release from custody. The case ultimately led to the revocation of his Montana insurance license, a $15,000 civil penalty, and later a federal guilty plea tied to exchanging bond money for sex.
Together, they explain why this case was both an insurance enforcement matter and a criminal prosecution, how Montana acted to protect the public, and what it reveals about the dangers of exploiting positions of trust and authority.
Fraud Files takes listeners inside real Montana fraud investigations, breaking down how these schemes happen, how they're uncovered, and what consumers can learn to better protect themselves.
See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information.
30 Jun 2026
Forsage: Crypto Dreams Fraud Schemes.
Can a scam hide behind blockchain technology?
In this episode of Fraud Files, host Adrienna Hines moderates a conversation with Montana Commissioner of Securities and Insurance James Brown and former DEA Resident Agent in Charge for the State of Montana Stacy Zinn as they examine one of the world's largest cryptocurrency pyramid schemes.
Forsage marketed itself as a revolutionary decentralized finance platform that promised passive income and financial freedom. Instead, investigators say it operated as a global pyramid and Ponzi scheme that collected more than $300 million from investors by rewarding recruitment rather than legitimate investment.
Commissioner Brown explains why Montana was among the first states in the nation to identify Forsage as an illegal securities offering and issue enforcement action, while Stacy Zinn provides insight into how complex financial crimes are investigated and why fraudsters increasingly rely on technology to create an illusion of legitimacy.
Whether you're curious about cryptocurrency, interested in financial crime investigations, or simply want to better protect yourself and your family, this episode offers practical lessons on recognizing fraud before it's too late.
See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information.
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