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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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Nevada

GOP primary for open US House seat and Democratic governors race highlight Nevada ballot

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GOP primary for open US House seat and Democratic governors race highlight Nevada ballot


LAS VEGAS (AP) — Nevadans are choosing their party nominees Tuesday for two closely watched congressional seats and the governor’s race, among others, as the state grapples with an affordable housing shortage, exploding energy demand from data centers and federal cuts to key state programs.

The state has a closed primary, meaning only registered Democrats and Republicans will vote in party contests after an effort to open them up failed in 2024.

Several primaries feature matchups between candidates backed by party leaders and political outsiders promising change. Come November, the governor’s race is considered one of the most competitive in the country, and holding on to the 3rd Congressional District is considered crucial for Democrats’ hope of retaking the U.S. House.

Here’s a look at the most prominent races:

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Democrats seek a rival for Lombardo

Gov. Joe Lombardo, a Republican, is considered one of the most vulnerable governors in the country this fall.

The Democrats vying to challenge him include state Attorney General Aaron Ford, who has the backing of the Democratic congressional delegation and former Vice President Kamala Harris, and Alexis Hill, a county commissioner in northern Nevada who campaigned as a candidate willing to shake things up.

They focused their campaigns on affordability, as the state continues to see a shortage of affordable housing, some of the highest gas prices in the country and cuts to federal healthcare and food assistance programs.

Ford largely ignored Hill, instead directing his attacks at Lombardo and arguing that both the governor and Trump are responsible for Nevadans’ economic woes. He is trying to become Nevada’s first Black governor.

2nd Congressional District

In the Republican contest to replace longtime Rep. Mark Amodei, who is retiring, President Donald Trump has endorsed David Flippo, a loyalist of the president who has never held elected office. Amodei and Lombardo have backed James Settelmeyer, a former state senator with a long political track record.

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The district covers northern Nevada and includes Reno and Carson City, the capital, along with an immense rural expanse.

Trump-endorsed candidates have seen successful in primaries elsewhere, underscoring his unrivaled power over the Republican Party as he enters the last years of his presidency. He easily won the district in the 2024 presidential election.

The GOP nominee has a good chance of winning in November, as registered Republicans outnumber Democrats by 70,000 in the 2nd District. A Republican has held the seat since the district was created in the 1980s.

Still, Democrats hope to entice the large number of nonpartisan voters in the district this fall. Their candidates include Teresa Benitez-Thompson, a former majority floor leader of the Nevada Assembly, and Greg Kidd, an investor who ran in the last cycle as a nonpartisan.

3rd Congressional District

Nevada’s other three members of Congress, all Democrats, are expected to win their primaries easily.

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In the 3rd District, Republicans are battling to determine who will face Democratic Rep. Susie Lee in what is considered the most competitive congressional district in Nevada because of its narrow Democratic registration advantage, its high number of nonpartisan voters and a history of razor-thin election margins. In 2024 both Lee and Trump won narrowly.

Candidates include Trump-backed Marty O’Donnell, a composer who worked on the “Halo” video game series and ran unsuccessfully for the seat in 2024; Jeff Gunter, a dermatologist and former ambassador to Iceland; neurosurgeon Aury Nagy; and businessperson Tera Anderson.

The candidates ran on border security, energy independence and decreasing the federal debt.

Attorney general

With Ford term-limited and running for governor, the opening has prompted competitive primaries for the state’s top law enforcement post.

The Democratic side features state Senate Majority Leader Nicole Cannizzaro and Treasurer Zach Conine. Both campaigned on promises to take on the Trump administration, following in the footsteps of Ford, who filed numerous lawsuits against the federal government.

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For the Republicans, Trump-backed attorney Adriana Guzmán Fralick faces Douglas County commissioner Danny Tarkanian. Tarkanian, son of legendary University of Nevada, Las Vegas basketball coach Jerry Tarkanian, previously ran unsuccessfully in multiple congressional races.

Both candidates campaigned on “election integrity,” casting doubt on voting security. Nevada is one of the swing states in which Trump falsely claimed the 2020 election was stolen, despite officials finding no evidence of widespread fraud.

Tarkanian promised to investigate voter fraud allegations, while Guzmán Fralick vowed to seek passage of the SAVE Nevada Act, which would be similar to changes Trump has sought at the federal level.

Her legislation would require all votes to be counted on Election Day, end universal mail ballots and eliminate automatic voter registration. It would almost certainly hit a dead end in the Democratic-controlled Legislature.

GOP secretary of state candidates question Nevada’s elections

Several Republicans are running for secretary of state, the office that oversees elections, including some who falsely claimed the 2020 election was stolen from Trump. The winner of the primary will take on Democratic Secretary of State Cisco Aguilar.

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The GOP candidates include Jim Marchant, a former state lawmaker and perennial candidate who has said the 2020 election “was probably stolen”; Sharron Angle, a former state lawmaker who was part of an effort to block the certification of Nevada’s 2020 election results; and Shirley Folkins-Roberts, an attorney who received Lombardo’s endorsement and has denied there is widespread fraud in Nevada’s elections.

All the candidates support implementing voter ID, which will be on the ballot for the second time in November after the question passed by a wide margin in 2024.

Angle promises to enforce voter ID if voters pass it and supports Trump’s executive order seeking to require documentary proof of citizenship to vote. The courts have so far halted that order, issued last year, from taking effect.

Marchant wants to eliminate electronic voting machines and end the state’s universal mail ballot system. He also wants to require paper ballots, which would be counted by hand, according to his campaign website.

Folkins-Roberts said she will work to keep voter rolls accurate and up-to-date, require voter ID and ensure that election results are delivered on time. She also wants to reverse the automatic voter registration system. In an interview with News 4 Reno, Folkins-Roberts said she believes Nevada’s elections are “good,” but wants to improve voters’ confidence by making changes.

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Red Flag Warning issued for heightened fire danger in Southern Nevada

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Red Flag Warning issued for heightened fire danger in Southern Nevada


We’ll start the week with a heightened fire danger with dangerous heat later this week.

TODAY

Expect mostly sunny skies with winds picking up again on Monday. High temperatures will reach 98 degrees in Las Vegas with south winds 10-20 mph and wind gusts up to 30 mph.

A RED FLAG WARNING is in place from 10am to 9pm Monday for gusty winds and dry weather, so if a fire started, it would spread quickly.

Winds are estimated to be 20-25 mph with gusts around 40 mph at times with relative humidity of 5%-15%.

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Air quality is ranked ‘good’ to ‘moderate’ for dust and tree pollen. The most common pollens are juniper, cedar, willow, sycamore and palm.

TONIGHT

We’ll see variable clouds this evening with skies going from mostly cloudy to mostly clear overnight.

Wind gusts will pick up again before midnight with gusts 30-40 mph possible downslope of the Spring Mountains in the west valley.

Elsewhere, gusts will be 20-30 mph. Breezes will eventually back down to 5-15 mph overnight. Valley lows will drop to around 74 degrees.

WHAT’S NEXT

We have reached 109 consecutive days without measurable rain in Las Vegas.

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No rain is in sight, but for perspective, June is the driest month of the year in Las Vegas. Fingers crossed on a hopefully more active monsoon season!

High pressure builds next with highs 5-10 degrees above normal. Temperatures will reach around 108 degrees in Las Vegas by Friday. The last time we hit a high temperature of 108 degrees was back on August 20th of last year.

Not much relief is in sight by the weekend with highs around 107 degrees and temps at or above 105-106 degrees NEXT Monday through Wednesday.



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DNA Doe Project unlocks cold case in Nevada

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DNA Doe Project unlocks cold case in Nevada


Growing DNA databases continue to unlock decades-old cold cases. How the DNA Doe Project helped to identify remains 37 years later.


Posted
6/8/2026, 2:51:05 AM

© KSNV, NBC News Channel

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