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    ALERT H.R. 1982 New Cosponsor

    – Congresswoman Kay Granger [R-TX12] has signed on to support H.R. 1982!

    If you reside in Congresswoman Granger’s district, please take a moment and send a Thank You letter by clicking here.

    SourcedFrom Sourced from: Network For Investor Action & Protection

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    LEGISLATIVE ALERT – SIPC LEGISLATION REINTRODUCED TO HELP MADOFF, STANFORD, AND MCGINN SMITH INVESTORS

    HR 1982 – RESTORING INVESTOR PROTECTION & CONFIDENCE ACT OF 2015
    INTRODUCED BY CONG GARRETT & MALONEY WITH OVER 40 ORIGINAL CO-SPONSORS

    After months of anticipation, Capital Markets Subcommittee Chairman Garrett and Congresswoman Maloney announced the reintroduction of the long-awaited SIPC legislation that promises SIPC protection for all investor customers of broker-dealers, and relief for thousands of innocent Madoff and Stanford victims. The legislation is precisely the same as what was introduced in the 113th Congress, and retains the original name: The Restoring Main Street Investor Protection and Confidence Act

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    U.S. not liable for alleged SEC negligence in Stanford fraud – court

    A federal appeals court said on Monday the United States is not liable to victims of Allen Stanford’s fraud who claimed that the Securities and Exchange Commission was incompetent for having taken too long to uncover the swindler’s $7.2 billion Ponzi scheme. A panel of the 11th U.S. Circuit Court of Appeals in Miami said the government is entitled to sovereign immunity. More on Reuters here.

    SourcedFrom Sourced from: Network For Investor Action & Protection

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    Stanford fraud victims hope new Congress will tweak rules that have blocked compensation

    WASHINGTON — As Congress returns to a radically realigned Washington this week, most lawmakers’ attention will be glued to energy, immigration and spending bills as the new Republican-led majority asserts itself. But behind the headlines, many victims of Allen Stanford’s massive Ponzi scheme will be looking for help, too. They want Congress to rewrite the rules for a large, government-created insurance fund that has yet to pay them a penny. About 20,000 investors worldwide lost $5.5 billion in capital when federal authorities halted Stanford’s scheme in 2009. But first, they’ll have to persuade the Dallas congressman whose voice against their proposal probably counts most in the Capitol. More in the Dallas Morning News here.

    SourcedFrom Sourced from: Network For Investor Action & Protection

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    Stanford investors ride court-rulings rollercoaster

    Sometimes the federal judiciary rules in favor of small investors who lose their savings to slick promoters like Robert Allen Stanford, of Houston, Texas. On other occasions, federal judges can crush those same investors. That was the roller coaster ride federal courts provided in 2014 for about 1,000 Louisiana residents and more than 20,000 people in other states and countries. By year’s end, those towering ascents and stomach-churning plunges left diminished hope of recovering much of the $5.5 billion to $7 billion estimated to have been swindled from people who placed their savings with Stanford Group Co. That firm and its sister companies were shut down by federal regulators in February 2009. More in The Advocate here.

    SourcedFrom Sourced from: Network For Investor Action & Protection

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