Briefly: Rep. pushes law to deter securities fraud
State Rep. Pat Dillon, Democrat of New Haven, has introduced legislation to allow the state to immediately seize the assets of those arrested for securities fraud. The measure, aimed at deterring Ponzi schemes such as Bernard Madoff’s, would follow other measures that allow the state to seize the cars and homes of those arrested for solicitation of a prostitute and drug dealing, respectively. “Madoff stole millions from Connecticut investors who are left in to climb out of his financial crater,” Dillon said in a statement. “Immediately seizing the assets of crooked money managers makes it...
