New Law on Fraud May Aid Connecticut Church

December 14, 2009  []

A state law enacted in the wake of the Bernard Madoff Ponzi scheme scandal could end up helping people who may have been victimized in a burgeoning crisis at St. Barbara Greek Orthodox Church in Orange.

The state is investigating the possible loss of more than $1 million from the church’s coffers and from parishioners’ private accounts due to an alleged embezzlement scheme.

State Rep. Patricia Dillon, D-New Haven, crafted a “Madoff bill” that allows state authorities to seize assets of anyone convicted of investment securities fraud. The bill was signed into law the same day in June that Madoff was given a 150-year sentence.

“In the case of St. Barbara’s, if the there is a criminal conviction (in state court), the law gives the state the power to seize the assets of the person who is found guilty,” Dillon said.

Read the full article here:

The New Haven Register http://bit.ly/6soInA

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