The Kalispell man who orchestrated a Ponzi scheme and swindled investors out of thousands of dollars now says he is gainfully employed and will repay the money.

Donald Chouinard’s promise represents the main stipulation in a plea agreement that came to fruition Thursday in Flathead County District Court where he was sentenced to 30 days in jail and ordered to pay $210,296.05 in restitution.

Judge Katherine Curtis delivered the sentence after Chouinard previously pleaded guilty to felony embezzlement and securities fraud.

In return for his Dec. 16, 2010, admission of guilt, the Flathead County Attorney’s Office agreed to recommend the dismissal of three additional counts of felony securities fraud.

Dressed in a suit and tie, Chouinard testified at the behest of his attorney Nicholas Aemisegger. He said he would have no difficulty repaying the money within the 10-year time period imposed by the court.

The former independent broker for LPL Financial Corp. said he now is working in Internet design and marketing. He said he makes between $2,000 and $3,000 a month working at Creston-based American Web Design and also provides services for a company called Custom Services Inc.

“You’re not collecting money directly from customers?” Aemsigger asked.

“No, I’m not,” Chouinard replied.

He added that he expects to earn between $7,000 and $10,000 a month soon as he is currently in negotiations to start another job in the same market.

Chouinard, in replies to questions from Aemisegger, expressed concern that he would lose contracts if forced to serve time in jail and indicated he’d be willing to complete community service instead.

Curtis ordered that he report to jail Friday night and that he complete the jail sentence over the course of 10 consecutive weekends.

She sentenced him to 10 years in prison, but suspended all but 30 days of the sentence.

“If you don’t do the jail time, your 10 years could be revoked,” she said.

Chouinard was fired by LPL Financial Corp. in May 2009. The Ponzi scheme was orchestrated between September 2008 and June 2009, according to court documents.

He was charged after an investigation by the Montana Securities Department that began when his clients reported possible misappropriation of their funds.

According to court documents, Chouinard convinced one investor to obtain a $100,000 loan and invest with him because he could guarantee a 40 percent return in 30 days.

Instead of investing the $100,000 in a day-trading program, Chouinard used $50,000 to pay off a previous investor, deposited $25,000 into his personal joint-checking account and gave the remaining $25,000 to his attorney.

In the Flathead Valley, Chouinard was accused of misappropriating a total of $187,400 from three victims.

State regulators alleged Chouinard made unauthorized trades on customers’ accounts during the five years he worked as an independent broker for LPL Financial Corp., causing customers to lose money and generating nearly $250,000 in commissions for himself.

LPL Financial paid $1.3 million in restitution and a $150,000 fine in that case, which resulted in no criminal charges against the company but did not protect Chouinard from legal liability.