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Senate advances bill to enhance penalties for securities fraud involving vulnerable adults
Summary
Senate Bill 101 would increase penalties—potentially elevating some securities fraud cases from third- to second-degree felonies—when crimes target vulnerable adults or involve undue influence; the sponsor cited an FBI estimate of $1.4 billion in fraud under investigation in Utah.
SALT LAKE CITY — Senator McAdams introduced Senate Bill 101 on Feb. 25, a measure to add penalty enhancements for securities fraud committed against vulnerable adults or through "undue influence." The sponsor framed the bill as a tool to punish particularly exploitative perpetrators and to provide judges an aggravating factor when sentencing.
"Over the course of the last year... the FBI was reporting where they say that they are currently investigating fraud in Utah totaling $1,400,000,000," Senator…
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