New bill would create restitution fund for fraud victims

Published: Feb. 21, 2023 at 11:43 AM PST
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CARSON CITY, Nev. (KOLO) - A new bill introduced in the Nevada State Legislature would create a restitution fund for victims of fraud.

Assembly Bill 67 was presented by Secretary of State Cisco Aguilar on Tuesday and would provide financial restitution for victims of securities violations.

“Our most vulnerable communities are often the hardest-hit by illegal schemes – that can have devastating impacts on their finances and the financial security they’ve built for themselves and their families,” said Secretary Aguilar. “I’m grateful to Deputy Secretary of Securities Erin Houston and our Securities Division for their hard work every day to help victims of fraud – this fund will greatly increase their ability to help victims get back on their feet.”

AB 67 would allow the Secretary of State’s Office to provide immediate, beneficial impact for victims who often receive little or no compensation for their losses.