Friday, November 08, 2019 2:31 pm
More than $1 million returned to Indiana fraud victims
The Journal Gazette
More than $1 million has been returned to victims of securities and investment fraud from the Indiana Securities Restitution Fund, the secretary of state says.
"Hoosiers have lost millions of dollars to scammers and fraudsters. Often, by the time the scammer is caught, they have already spent or lost most of the stolen funds," a news release said. The fund seeks to "assist Hoosiers as they work to put their financial lives back together."
Secretary of State Connie Lawson said in a statement this week she is proud of the work the Indiana Securities Division has done "to deliver justice to so many victims of investment fraud. Our savings and investments are dearly won and easily lost, and I encourage all Hoosiers to educate themselves on investment fraud prevention through the Indiana MoneyWise program.”
The fund was established in 2010 and allows a victim of a securities violation to receive an award of up to $15,000. There have been more than 100 awards with an average award of $10,000 and an average award recipient age of 64.