The "No Fortune for Fraud Act" is a federal bill aimed at preventing individuals convicted of fraud from profiting financially from their crimes. The main provisions of the bill include requiring courts to impose a financial penalty on individuals convicted of fraud, ensuring that they do not benefit financially from their illegal activities. This act aims to deter fraudulent behavior by removing the incentive of financial gain and holding perpetrators accountable for their actions. It seeks to protect consumers and investors by disrupting the ability of fraudsters to retain any ill-gotten gains.
2023-03-07: Introduced in House
2023-03-07: Referred to the House Committee on House Administration.
2023-09-12: Referred to the Subcommittee on Oversight.
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