Stanford victims make progress in D.C.

After spending two days in Washington, D.C., with members of the Louisiana Congressional delegation, members of the Louisiana Stanford Victims Group say that have made considerable progress in seeking help. Group members met with president and CEO Stephen Harbeck of the Securities Investor Protection Corporation for clarification on why coverage is not applicable for Stanford victims. The group also says that Sen. David Vitter is now working with the Senate Banking Committee to “add the Stanford fraud to the upcoming hearing on the Madoff fraud.” If the committee agrees to add Stanford, the alleged Ponzi scheme victims will be asked to testify. House members also are working to schedule hearings with the Stanford fraud victims in the Committee on Financial Services and the Committee on Oversight and Government Reform. While the Louisiana delegation met with the victims group, Liz Baker-Murrill, executive counsel for Gov. Bobby Jindal, called to affirm the governor’s support in the victims’ attempt to gain resolution. Kim Scullin, a spokeswoman for the victim’s group, says the group hopes its efforts can “lead to improved oversight at the federal and state levels.”—Olivia Watkins