Congdon and Kovick sentencing postponed until September

MISSOULA  —  Last month in United States District Court, the sentencing for Robert Congdon and Keith Kovick was postponed from July 26 until Sept. 6.

Congdon and Kovick are on trial for their involvement at the head of Polson-based Cornerstone Financial Inc. in what was the largest Ponzi scheme in Montana history. Between 2000 and early 2009, the pair swindled investors out of more than $14.3 million.

They have pled guilty to charges of mail fraud, wire fraud and money laundering and are currently released on special conditions. According to the U.S. Attorney’s Office, Congdon faces potential sentences of up to 20 years in prison, a $250,000 fine and three years supervised release on each of 19 counts, while Kovick faces the same possible penalties on 16 different counts.