Posted: Monday, 29 June 2009 12:37PM
Rell Signs Law in Wake of Madoff Scandal
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HARTFORD, Conn. (AP) - Connecticut Gov. M. Jodi Rell has signed a bill into law that expands the state's organized crime law to include securities fraud and allows the state to freeze the assets of anyone convicted of investment fraud.
The bill signing Monday falls on the same day that disgraced financier Bernard Madoff was sentenced to 150 years in prison for a multibillion-dollar fraud scheme.
Thousands of people lost billions of dollars investing with Madoff, including many from Connecticut.
Rell signed the bill at the Center for Children's Advocacy, a Hartford-based, nonprofit legal advocacy group for children that lost money because of the scheme.
The New York-based JEHT Foundation, which had pledged the center $85,000, had invested with Madoff.
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Associated Press
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