Nevada Secretary of State presents bill to create fund for fraud victims

LAS VEGAS, Nev. (FOX5) - Nevada Secretary of State Cisco Aguilar presented a bill to the Nevada Legislature on Tuesday morning that would establish a statewide fund to provide help to victims of securities violations.

The proposed legislation, Assembly Bill 67, would allow the Secretary of State’s office to provide immediate, beneficial impact for victims who often receive little to no help with their losses, according to Aguilar.

“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 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.”

“A lot of the time, there is no money left for the victim after a fraudster has taken their money, even if the victim successfully sues in civil court,” said Houston. “I’m proud to introduce this legislation that will allow our office to better serve Nevadans.”

If you think you’ve been a victim of securities fraud, you can file a complaint online in English or Spanish.