|Penalties increased for securities fraud in Kansas|
Tougher penalties for securities fraud of $25,000 or more will soon take effect in Kansas.
The Kansas Legislature approved Senate Bill 110 and Gov. Kathleen Sebelius has signed it.
The bill will increase penalties to three severity levels, which are based on the amount of loss.
Under current law, a defendant who defrauds investors out of $1 million is treated the same as a defendant who defrauds someone of $25,000. All securities fraud sentences were for 17 to 19 months.
Under the new law, the sentencing range for defendants with no prior convictions for $100,000 or more is 38 to 43 months, for amounts between $25,000 and $100,000 is 31 to 34 months and amounts less than $25,000 is 11 to 13 months.