SB155 - Legislative Call to Action

March 1, 2015


 
 

Thank you for your help with reaching the goal for Miriam Ibrahim and her family.

 

Imagine that an opportunity arises where you can lend money for mortgages and receive interest on that loan over a period of time.  BEFORE you decide to participate, you contact the state agencies (listed below) that regulate businesses operating in New Hampshire to verify the integrity of the business. 

 

The New Hampshire Banking Department is committed to protecting the public's interest through professional supervision of the financial services we regulate.

 

The Attorney General is responsible for the general supervision of all criminal law enforcement in the State of New Hampshire.

 

The Bureau of Securities Regulation regulates and licenses securities and investigates complaints for the protection of New Hampshire Investors while facilitating responsible capital formation in the state.

 

These agencies report that there are no complaints or violations for this company.  As a result you decide to take advantage of the opportunity presented to you.

 

Then a few months or years later your world turns upside down.  The company, Financial Resources Mortgage, Inc. is placed in Chapter 7 Bankruptcy and eventually is closed.  You lose your life savings.

 

The State Legislature orders an investigation of the situation.  The perpetrators of this ponzi scheme are now serving prison terms for stealing at least $33 million from over 350 lenders and borrowers.  The NH Legislature investigate the situation and conclude that, "The State had the necessary tools and resources at its disposal to perform their statutory duty and adequately protect the consumer, but FAILED TO DO SO." (Emphasis is mine)

 

You could be one of the victims.  Just imagine if you were in their shoes and lost a significant amount of your savings.


 

Will you help these victims receive the justice they deserve?  

 

SB155 establishes a fund to help right the wrong done to these lenders and borrowers who have lost their life savings.  


 

Your Senator needs to hear from you before March 5.   Please ask your Senator to pass SB 155. 


 

Will you be one of the ten people who will ask your Senator to establish a fund to help the victims of the fraud that could have been avoided IF the state agencies had acted responsibly?  You can find your Senator here. 

 

Signature

Karen Testerman

Co-Chairman

 

P.S.  Please share this request with friends, family and church members.

 
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