ST. PAUL, Minn. (FOX 9) – The Minnesota governor signed an array of bills following the end of the legislative session.
The new laws include increased fraud protection, Capitol security measures, cannabis supply chain regulation, in addition to infrastructure funding and general fund bonding for land and development purchases.
Bills signed into law
Crime and safety:
SF 3432: This bill provides investment into security measures at the Minnesota State Capitol. It also creates a database of emergency contact information of elected officials and establishes a Security Services Task Force.
HF 3489: Following the passage of a law that makes child grooming a felony in Minnesota, the signing of HF 3489 provides funding for investigative staffing costs related to the student maltreatment program.
Education:
HF 3900: Voters will have the chance to support funding for Minnesota schools…
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.