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Senate panel hears bill to let victims sue fake crowdfunding organizers, reclaim portion of donations
Summary
A Texas Senate committee heard testimony on House Bill 4281, which would let victims and the state pursue people who set up fraudulent crowdfunding campaigns and allow victims to recover 25% of fraudulently collected donations.
Senators on the Committee on State Affairs heard testimony on House Bill 4281, a measure sponsored in the Senate by Senator Hancock that would give victims and the state a civil path to pursue people who create fraudulent crowdfunding campaigns and allow a victim to recover 25% of donations gathered through fraud.
The bill’s sponsor, Senator Hancock, described the problem as one that "has become a popular and effective way to raise funds for various causes" but one that criminals sometimes exploit. He said the measure would “hold criminals accountable by allowing the…
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