Stanford victims set to testify

The Louisiana Stanford Victims Group will be appearing before the Legislature at 9:30 a.m. Wednesday in House Committee Room 6. Stanford victims will testify before the committee in support of Rep. Bodi White’s bill to increase the criminal penalties for financial fraud in Louisiana. The group, affiliated with the national Stanford Victim’s Coalition, also will be headed to Washington, D.C., on Friday to continue working with U.S. Sen. David Vitter’s office to petition for Certificates of Deposit that were held within the United States to be covered under the Securities Investor Protection Corporation. SIPC works to return customer cash, stock and other securities when brokerage firms close due to bankruptcy or fraud. The Stanford victims affirm in a petition, that the “Stanford Group was an active SIPC member and the CDs were sold as SIPC insured.” Read the SIPC Coverage Petition here.