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Could new bill help Nevadans targeted by scammers?

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Could new bill help Nevadans targeted by scammers?


LAS VEGAS (KTNV) — Nevada lawmakers are looking at ways to help scam victims across the state.

On Thursday, Secretary of State Francisco Aguilar introduced Senate Bill 76 to the Senate Committee on Judiciary.

If passed by state lawmakers, the bill would create a fund to compensate victims of securities fraud.

You can read the bill below.

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According to the FBI, securities fraud includes a wide variety of issues like high yield investment fraud, Ponzi schemes, pyramid schemes, advanced fee schemes, foreign currency fraud, broker embezzlement, hedge fund-related fraud, and late day trading.

Here in Nevada, the Nevada Securities Act and the Nevada Commodities Act are both found in state law and are administered by the Secretary of State’s Office, through the Securities Division.

“One of the responsibilities of the Secretary of State is to ensure that we protect the securities and investment environment in Nevada,” Aguilar told me. “That’s an issue that impacts some of our most vulnerable communities, especially our senior communities. You have individuals who have worked a lifetime building up a nest egg to be able to live in retirement comfortably. They meet scrupulous individuals, bad actors, who built their trust and then start to slowly defraud them in the investment area.”

So what does a typical securities fraud scam look like?

“An individual with a very low net worth or low salary is enticed to invest in a new, local startup with a promise of a high rate of interest as a return. Unfortunately, the offer itself was premised on fake statements or misleading information or missing information,” Deputy Secretary of Securities Erin Houston explained. “And when the investment fails, the individual is completely out of luck in terms of recouping their money.

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She added that if the bad actor is charged, the money is usually gone and victims have no way of getting restitution, even if the court orders it.

For example, in Fiscal Year 2023, the division investigated securities fraud from investors totaling over $16 million but investors only received $205,000 in restitution. In Fiscal Year 2024, the division looked into fraud claims of nearly $10 million and investors received just over $1 million in restitution.

Senate Bill 76 would fill that gap to provide restitution to more victims.

How much money could scam victims receive?

Scam victims could receive up to $25,000. This would apply to victims who have been awarded restitution as set forth in NRS 9640.

Aguilar said some people would end up losing more money than that in securities fraud schemes but this would at least help them get back on their feet.

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“The main reason we are proposing this legislation is that it provides a way for Nevada residents to obtain desperately needed relief after losing what is often a significant chunk of their savings to someone who has defrauded them,” Aguilar said.

Where would the money for the fund come from?

If passed, a fractional amount of revenue that presently goes to the state general fund would be held for victims of securities fraud.

For now, Aguilar said they would cap the total fund amount at $500,000.

“We understand that revenue is important to the state and we want to support the state and want to make sure we are not diverting too much funding away from the state at large.”

Aguilar also told me they’re also looking at opportunities to take third-party funds to add to the fund.

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“Sometimes, when there is mass litigation, they look for places to deposit the proceeds of those funds,” Aguilar explained. “Also, if there’s an individual who’s generous like a JP Morgan Chase, that understand what we’re trying to accomplish, they’d make a contribution to the fund.”

What should securities fraud victims do if they’ve been scammed?

According to Aguilar, it has been challenging getting victims the help they need.

“We find that it’s hard for people to come forward when they’ve been victims of investment fraud. This will hopefully encourage people to bring their case to us because the more information we have, the more evidence we have, the faster we can take these bad actors out of the market,” Aguilar said. “Please call us. Please file a complaint so that we can send our investigators out and hold bad actors accountable.”

Those thoughts were echoed by several AARP officials, who testified in support of the bill.

“Some of them feel like they just get a shrug. Well, there’s nothing we can do. This would address that,” said Jessica Padron, Advocacy Director for AARP Nevada. “Our call to action is that the creation of this fund is not just good policy, it’s the right thing to do and fraud victims should not be left to suffer the consequences of crimes committed against them.”

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What was the feedback from lawmakers?

“To be honest with you, I was quite impressed at how empathetic they were to individuals who are victims of investment fraud,” Aguilar told me. “They understood the need for this but also to their willingness to discuss how we fund it.”

The bill is now on its way to the budget committee for further consideration.

What red flags should people look out for and how can they file reports with the Secretary of State’s Office?

  • If the deal seems too good to be true, it probably is.
  • Call the Secretary of State’s Office to verify that individuals are licensed broker dealer or licensed investment advisors.

You can file a complaint with the Secretary of State’s Office here.

The Secretary of State’s Office also provides a free Nevada Investor Guide, which you can read below.





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NSU flag football team’s undefeated inaugural season ends prematurely

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NSU flag football team’s undefeated inaugural season ends prematurely


As a rule, first-year sports programs are not expected to be competitive. It can take time to build an administration, coaching staff and team capable of competing with the best.

Nevada State University’s fledgling flag football team threw that rule out the window this year.

The Scorpions just finished an undefeated inaugural season in which they won eight of 13 games by shutout while outscoring opponents by an average of 42 points. They built such a reputation that their final two opponents canceled games that would have been played this week.

“How our season has gone, teams don’t want to come out here to lose,” said coach Brandon Pappillion, who coached at Bishop Gorman before taking over at NSU. “It was very disappointing. One canceled, then the next day the other called to cancel.”

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The Scorpions surprised opponents, but they did not surprise themselves.

“Going undefeated was our goal from the beginning,” Pappillion said.

But there were no playoff wins. Though the Scorpions have applied to join the NAIA next year, they were unaffiliated this season and were ineligible for postseason play. The NAIA is a similar to the NCAA but consists of many smaller and private universities.

Pappillion said he can wait, as he is confident he’ll have another dominant squad next year.

Easy to recruit

Unlike coaches of most first-year programs, Pappillion was able to recruit many of the top players in the country. He didn’t have to look very far, as Clark County has become the country’s hotbed for flag football talent. All 15 of his players came from Southern Nevada high schools.

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Former Liberty standout Kaylie Phillips, a quarterback and defensive back, said she knew from the start that the team would be competitive in its first season.

“I knew we’d do really good, but to go undefeated with all the shutouts was the surprising part,” the freshman said. “But I never thought we’d lose, even in the close games.”

There weren’t many of those. The Scorpions defeated Arizona State 21-12 and Arizona Christian 28-26. The remainder of the victories could be classified as blowouts, including last month’s 83-0 trouncing of USC.

The Scorpions gained so much attention that Phillips and teammate Brooklin Hill recently were named to the 24-player US Women’s National Team roster. Training camp begins this month, with the IFAF World Championship scheduled for this summer in Germany.

Elite athletes

Hill, a former Desert Oasis standout, played her freshman season at the University of St. Mary in Kansas before returning home for her sophomore year. She said her homecoming has been a welcome step up.

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“(St. Mary) was a good learning experience,” said Hill, who jumped on the offer to transfer to NSU’s first-year program. “I was able to get something out of it. But with the coaches and the players here, we have a winning culture and we believe we have to be the best.”

Pappillion said that culture did not come by accident.

“I think Nevada has the best talent across the country,” he said. “We’ve been doing this longer than anybody else because we were one of the first states to start flag football. We have a little advantage.”

If all goes as planned, the Scorpions will qualify for postseason play next year.

“The girls knew that this year was a chance to get their feet wet,” Pappillion said. “But they all want to play for a championship. That has always been their goal.”

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Contact Jeff Wollard at jwollard@reviewjournal.com.



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Northern Nevada nonprofits lose thousands in missing donations after fundraising collapse

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Northern Nevada nonprofits lose thousands in missing donations after fundraising collapse


At least a dozen northern Nevada nonprofits are scrambling to recover after a nationwide fundraising platform failed to deliver thousands of dollars in donations, leaving critical community programs at risk.

Oakland-based Flipcause, a company that processed online donations for nonprofits, is accused of withholding funds before filing for bankruptcy in December. California Attorney General Rob Bonta has since issued a cease-and-desist order, halting the company’s charitable operations.

Officials say more than 3,200 nonprofits nationwide are affected, with over $29 million in donations unaccounted for.

At least 12 organizations in northern Nevada are among them — each now facing financial losses.

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The Down Syndrome Network of Northern Nevada reports losing $33,602. Other impacted groups include:

  • JUSTin Hope Foundation — $8,463
  • Larena Smith Bengoa Run — $7,338
  • Nevada Hands & Voices — $6,283
  • Cancer Community Clubhouse — $5,672
  • Sustainable Tahoe — $1,487
  • Urban Cowgirl — $1,262
  • I School — $1,050
  • Reno Tahoe Athletics — $834
  • Transgender Allies Group — $500
  • Fire & Ice Horse Training — $201
  • Nevada Humanities — $142
Staff work with clients at the Down Syndrome Network of Northern Nevada (News 4)

For the Down Syndrome Network of Northern Nevada, the loss is immediate and deeply personal.

“We’ve lost about 30% of our operating budget for this year,” said Christina Ugalde, the Executive Director of the Down Syndrome Network of Northern Nevada.

The nonprofit provides support and programming for hundreds of families in northern Nevada through grants and community support.

“We are funded about 90% by individual donations,” Ugalde said. “So what’s happened to us has been absolutely devastating.”

The organization has served the region for nearly two decades, offering social programs, events and resources for individuals with Down syndrome and their families.

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“For our families, it is so important that they feel a part of the community,” Ugalde said. “Getting the diagnosis of Down syndrome can be a very isolating thing for a lot of families.”

Some of the now missing funds were raised during the group’s largest annual fundraiser in September, the Buddy Walk. Ugalde said the organization submitted a request for the money, which typically arrives within 10 business days.

“It didn’t,” she said.

Instead, she says Flipcause repeatedly assured her the funds were on the way.

“They came back with all sorts of responses the money was on its way,” Ugalde said.

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Weeks turned into months. Then came the bankruptcy filing — with no warning to many nonprofits still waiting for their money.

“We’re out $33,602,” Ugalde said. “That affects all of our families and the individuals that have Down syndrome with the amount of events that we’re able to put on.”

Despite the financial strain, she says the organization is determined to continue serving families — even as uncertainty remains about whether any funds will be recovered.

“I would love for everyone to get their money back,” Ugalde said. “I hope that through the bankruptcy process, we get something back.”

The California Attorney General’s Office is urging affected nonprofits to file complaints as part of the ongoing investigation.

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In the meantime, organizations across northern Nevada are turning to their communities for help — hoping to replace what was lost and keep essential programs running.

For families who rely on those services, the stakes are deeply personal.

“These programs mean connection, support and belonging,” Ugalde said. “We don’t want that to go away.”



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Motorcyclist killed in Las Vegas Valley crash

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Motorcyclist killed in Las Vegas Valley crash












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