Newsmakers: Sen. Ann Rest Highlights New Restitution Fund for Fraud Victims
Minnesota has created a first-of-its-kind restitution fund to help victims of fraud recover lost money.
Sen. Ann Rest, chair of the Senate Taxes Committee, says a volunteer from AARP approached her about the amount of consumer fraud that is directed toward older people.
“One of their volunteers came to me and said what would you think about sponsoring a restitution fund for individuals who have been defrauded for which there is little opportunity of recovering the money that they lost,” said Rest. “I thought it was a wonderful idea.”
The bill passed during a one-day special session in June, and created a restitution fund for Minnesota fraud victims. The new law allows money won back by the Attorney General in fraud settlements to be returned to fraud victims. The bill requires 50 percent of all money recovered in a consumer enforcement action be deposited in the restitution account instead of the state’s general fund.
“It’s a unique bill here in Minnesota and it’s unique across the country and it’s going to make a difference in people’s lives,” said Rest.
See also: Sen. Ann Rest To Retire from State Legislature After 40 Years of Service
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