Starting in July, Kansas will punish security fraud more severely if it’s committed against the elderly.
Gov. Sam Brownback signed a bill Thursday to increase the penalties for securities fraud if the victim is 60 or older. Legislators approved the measure last week by unanimous votes in both chambers.
The new law increases penalties across the board when the victim is elderly.
Currently, for a first-time offender convicted of securities fraud causing a loss of less than $25,000, the presumed sentence is two years’ probation, but up to 19 months in prison is possible.
Under the new law, if the victim is 60 or older, there’ll be no presumption that the offender will avoid prison, and the time could be between 31 and 34 months.