FRM scandal recovery fund tabled by NH House
The House Commerce and Consumer Affairs Committee could not agree on a recommendation for the bill that would have repaid the fraud victims in light of the failure of state agencies to intervene in the Ponzi scheme that cost victims in New Hampshire about $33 million. Senate Bill 180, sponsored by former Senate President Peter Bragdon, R-Milford, passed the Senate unanimously, but the House commerce committee retained the bill last session to work on it.
Lawmakers have been concerned the fund would set a precedent, but others said the magnitude of the FRM case was far greater than any the state had seen before and victims deserve some relief.
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