The State of Oregon has fined a Mill Creek, Washington man $400,000 for selling securities without a license.

Cheryl Martinis, with the Department of Consumer and Business Services, says Cecil "Buz" Smith, Junior was selling shares of a company that was supposed to offer bus tours through the Columbia River Gorge to senior citizens.  The 10 “victims” invested about $200,000 and never saw a dime of their money. Martinis says investors should always do background research before spending money.