Regulators fine Native corporation board member over post

Published: Jul. 15, 2020 at 5:25 AM AKDT
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JUNEAU, Alaska - State regulators have fined an Alaska Native corporation board member over a social media post perceived as an attempt to sway the votes of shareholders.

CoastAlaska reported Richard Beasley of Goldbelt Inc. posted a message regulators determined was implying shareholders would be paid if they voted in favor of establishing a new trust the Juneau-based urban corporation said would take advantage of a federal tax law change.

The state’s banking and securities division fined Beasley $1,000 for suggesting a vote for the trust would result in a $100 payment. All those who voted received the inventive payment.

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