About Me

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Did Socrates say "Know Thyself", or was he misunderstood, as all are. Show Thyself is all we can do. The knowing is unknowable.  

I am filled with joy.  It can't be helped.  

Became a Farmer, Builder, Musician, Tank Commander, Librarian, Lawyer and Minister. I have failed at many things. And now retired.  Filled, just filled, with Joy. 

Thursday, September 02, 2010

Victims of Corporate Fraud - a Compensation Fund

In 2002, after the Halliburton no-bid profiteering in Iraq and the Enron bankruptcy revealed the depths of the Cheney-Lay-Skilling predatory mind-set of CEOs willing to pillage their own companies, AB 55 added a new Section to the California Corporation Code. Section 1502.1 establised the Victims of Corporate Fraud Compensation Fund (VCFCF) in the State Treasury administered by the Secretary of State.

The purpose of the Fund is to provide restitution to the victims of corporate fraud. Once a fraud judgment is obtained, if collection efforts are fruitless, victims can turn to the Fund. Apparently, however, since 2002, no victim has recovered.