August 14, 2013 – The Huffington Post – Delbert Hosemann, Mississippi Secretary Of State, Accuses SEC Of Ignoring Fraud Victims

Delbert Hosemann, Mississippi Secretary Of State, Accuses SEC Of Ignoring Fraud Victims

By EMILY WAGSTER PETTUS 08/14/13 06:52 PM ET EDT

JACKSON, Miss. — The U.S. Securities and Exchange Commission has failed to distribute $100 million to 39,000 investors nationwide who lost money because of fraud by a financial firm, a Mississippi official said Wednesday.

Mississippi Secretary of State Delbert Hosemann said Wednesday that the federal agency has ignored repeated inquiries about the money. The Republican said that he, the Democratic state attorney general and all four of Mississippi’s U.S. House members – three Republicans and a Democrat – have asked about it.

“There is no reasonable excuse for this,” Hosemann said at a news conference at the Mississippi Capitol.