DeMarco bill to extend statute of limitations goes to full house
A new Alabama statute of limitations bill is up for Vote in House of Representatives. Alabama State Representative Paul DeMarco (R-Jefferson), Chairman of the House Judiciary Committee announced today that House Bill (HB) 325 has moved out of Committee and is ready for a vote by the Alabama House of Representatives. Currently the State only has three years to investigate and prosecute most felony offenses. Most states and the federal government provide for longer periods of time. The additional time will significantly aide law enforcement in gathering evidence that could lead to charges. Complex economic and financial crimes are difficult to detect and are often not reported to law enforcement until after the present three year statute of limitations has already lapsed. HB 325 will allow for the prosecution of crimes involving securities fraud and other thefts involving deception for a period of five years following the discovery of the deception or fraud, instead of the date of the transaction, thereby limiting a criminal's ability to avoid prosecution by employing schemes which prevent timely discovery.
Representative DeMarco sponsored the bill. He stated, "We can't afford to let criminals get away with cheating people out of their life savings and this bill will improve the ability of law enforcement officials to prosecute criminals who orchestrate long term financial and investment schemes."
Alabama Securities Commission Director Joseph Borg said, "HB 325 is an important bill that will significantly assist law enforcement in the prosecution of serious crimes that are categorized as felonies in Alabama. It will positively impact the ability to successfully prosecute the perpetrators of financial and property crimes against Alabamians and especially on behalf of our senior citizens who are particularly targeted by scamsters and con artists."