Connect with us

Nevada

Could new bill help Nevadans targeted by scammers?

Published

on

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.

Advertisement

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.

Advertisement

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.

Advertisement

“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.

Advertisement

“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.”

Advertisement

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.





Source link

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nevada

Nevada ranks 42nd in animal-friendliness for 2025

Published

on

Nevada ranks 42nd in animal-friendliness for 2025


With up to 40% of America’s native animal species at risk of extinction, SmileHub has released its latest reports on the Best Charities for Animals and the Best States for Animals in 2025.

The non-profit organization evaluated the animal-friendliness of all 50 states using 18 key metrics, including the number of animal charities per capita, the share of pet-owning households, and the number of veterinarians per pet-owning household.

Nevada ranked 42nd overall in animal-friendliness.

The state placed 38th in both the share of pet-owning households and animal charities per capita.

Advertisement

It ranked 30th in animal protection laws, 18th in veterinarians per 1,000 pet-owning households, and 23rd in the number of state conservation programs and initiatives.

For more detailed information and to view the full report, visit SmileHub’s website.



Source link

Continue Reading

Nevada

Missing camper explains how she survived 3 weeks lost in Sierra Nevada

Published

on

Missing camper explains how she survived 3 weeks lost in Sierra Nevada


The survival story of a missing camper who spent nearly three weeks lost in the snow-covered Sierra Nevada mountains has stunned even the most experienced rescuers.

Story of survival

What we know:

Advertisement

The tale of Tiffany Slaton, which includes battling blizzards, injury, hunger, and isolation, is one reminiscent of the competition game shows Survivor or Alone.

Though the 27-year-old’s story isn’t TV.
 
As Fresno County Sheriff John Zanoni said, it’s an “incredible story of perseverance, determination and survival.”
 
Slaton, of Jeffersonville, Georgia, had been on a solo camping trip through the Sierra National Forest, part of a “bucket list” adventure before setting off to medical school.

Advertisement

Her journey began April 14 in the Shaver Lake and Huntington Lake areas. She traveled by electric bike with basic gear, including two sleeping bags and a tent.

She made it as far as Kaiser Pass, at an elevation of about 9,000 feet, and also passed through the Edison Lake and Golden Lake areas.

At one point, Slaton fell off the side of a mountain. She later told reporters at a news conference on Friday she was unconscious for nearly two hours. She said she had to splint one leg and pop the other back into place herself.

Advertisement

“Thinking of going over Kaiser Pass, and there is somewhere between 10 and 12 feet of snow. The road hadn’t even been plowed yet at the time that she went over,” Zanoni said.

Slaton ultimately had to abandon her electric bike at the trailhead for Hopkins Lake.

Advertisement

An avalanche blocked the road, and though she tried calling 911 repeatedly, the calls didn’t go through. Her GPS suggested the nearest Starbucks was 18 miles away — closer than the nearest trail entrance.

That’s when the most intense phase of her survival began.

Brutal conditions

Advertisement

Dig deeper:

She endured dehydration, hunger, extreme sun exposure that damaged her eyes, and brutal snowstorms — all while suffering from Ballerina Syndrome, a rare condition that prevents her from keeping her heels on the ground.

She ran out of most of her food within five days.

Advertisement

Her family last heard from her on April 20 and reported her missing on April 29. Search crews began a massive effort, covering 600 square miles between May 6 and 10.

How she survived 

What they’re saying:

Advertisement

“I managed to survive off of these leeks and boiling the snowmelt for a very long period of time,” Slaton said.

A traveling dialysis technician, archery coach, and permaculturist, Slaton attributes her survival to both her physical conditioning and life skills she learned growing up on her family’s small farm in Georgia.

Advertisement

She was finally found on May 15 by Christopher Gutierrez and his employees at the Vermilion Valley Resort near Mono Hot Springs. The resort had been snowed in, but once roads were cleared that day, Gutierrez visited the property to begin summer preparations.

During the check, they noticed a door open at one of the rentals, known as the Boat House.

“I see some shoes down there, and I’m like, okay, well, it’s just a hiker who decided to hold up in the blizzard that we had that previous night and so as soon as we start making our way there, here comes Tiffany pops out deer in the headlights,” Gutierrez shared in a news conference on Wednesday.

Advertisement

He recounted the powerful moment she saw him and his workers. 
 
“Didn’t say a word, just ran up and all she wanted was a hug,” the resort owner shared, “And it was a pretty surreal moment.”

Slaton told reporters that if Gutierrez hadn’t found her when he did, she would have been dead after enduring 13 grueling snowstorms.

Advertisement

“I would not be here,” she said. “It was going to be the last one if he hadn’t have come that day. They would have found my body there.”

Gutierrez drove Slaton to a staging area, where deputies met her.

Despite surviving an avalanche, two landslides, and more than a dozen heavy snowstorms, Slaton’s injuries were limited to small cuts, burns, and eye damage from sun exposure.

Advertisement

“Nothing that I don’t think time will be able to heal,” she said.

At the back of her mind throughout the ordeal was one goal: to get back to her family in time for her birthday. She was found on May 14 — and the next day, her actual birthday, she was reunited with her family in California.

Advertisement

The Source: Information for this story came from the Fresno County Sheriff’s Office and Tiffany Slaton.

California



Source link

Advertisement
Continue Reading

Nevada

Lost hiker missing for 3 weeks in Calif. mountains survives — thanks to cabin left unlocked for this exact reason

Published

on

Lost hiker missing for 3 weeks in Calif. mountains survives — thanks to cabin left unlocked for this exact reason


That’s some proper prior planning.

A lost hiker missing for three weeks in the California mountains miraculously survived when she stumbled upon an unlocked cabin that had been left open by its owner for this exact situation — and was rescued just in time to celebrate her 28th birthday.

Georgia woman Tiffany Slaton found shelter at a closed resort in the eastern Sierra Nevada range after she was initially reported missing on April 29, authorities said.

A massive search for Slaton involved scouring more than 600 square miles at the Sierra National Forest, but it was Vermilion Valley resort owner Christopher Gutierrez who found her first this week.

Advertisement
Tiffany Slaton was found on Wednesday after going missing for three weeks. Fresno County Sheriff’s Office

He arrived at the venue Wednesday to prepare to reopen when he saw a front door slightly open and a pair of shoes.

“She pops out, didn’t say a word, just ran up and all she wanted was a hug,” Gutierrez said during a Wednesday evening news conference.

“It was a pretty surreal moment, and that’s when I realized who this was.”

He typically leaves the cabin doors open while the resort is closed during the off-season in case a wayward hiker needs a place to crash amid harsh weather conditions like blizzards.

“It’s mainly for people, just as this scenario played out, if they need to hole up in there one of shelter then it’s available,” Gutierrez said.

Advertisement

Slaton, who hails from Jeffersonville in the Peach State, told Gutierrez she survived for weeks solely munching on leeks before the resort owner fed her a peanut butter and jelly sandwich.

“It was a blizzard, and she pushed through that blizzard, and the first thing she saw was a cabin,” said Gutierrez. “And she held up in the cabin overnight … this girl was saved for the reason.”

She was reported missing last month. Fresno County Sheriff’s Office

The survivor was brought to a hospital and is in good condition besides dehydration, the Fresno County Sheriff’s Office said.

Her parents reported her missing late last month, and witnesses told the sheriff’s office she was last seen on April 24.

Two days before she was found, the sheriff’s office announced it was scaling back the search.

Advertisement

Bobby and Fredrina Slaton, her mom and dad, were losing hope when they received a phone call from none other than Tiffany as she was being taken down the mountain.

“She said, ‘Dad, I’m alive, and I’m sorry, but I’m alive and I wanted to call you and let you know I’m alive,’” an emotional Bobby Slaton said at the press conference.

As Bobby cried inside a store, Fredrina needed someone to hug.

Her parents were over the moon about the survival. ABC

“I grabbed somebody and said, ‘Can I hug you?’” she said. “And I did. I was crying and hugging.”

More information about Slaton’s incredible story of survival was not immediately known, including when or where her adventure began and how she ended up at Vermilion Valley Resort.

Advertisement

The sheriff’s office plans to eventually interview her for more details.

“Three weeks, it’s unheard of,” sheriff’s office spokesperson Tony Botti said. “It speaks to the tenacity that Tiffany has, that she’s a fighter.”

Slaton was rescued the day before her 28th birthday, People reported.

With Post wires

Advertisement



Source link

Continue Reading
Advertisement

Trending