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The Club No One Wanted To Join

Madoff Victims In Their Own Words...available in paperback at www.amazon.com
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Mission & Goals

The Network for Investor Action and Protection (NIAP) was formed to support victims of securities fraud and other fraudulent activities by empowering them to seek appropriate redress for their financial and emotional injuries through education, advocacy for legislative and judicial solutions and maximization of restitution.

MISSION

NIAP’s mission is to provide maximum restitution and assistance for all victims of investor fraud, identify and shape solutions that will help protect investors in the future, and help restore trust in the American financial system.

GOALS

NIAP’S goals are to:

  • identify, shape and support legislative, government agency and other solutions to maximize relief for investment fraud victims
  • oppose clawbacks of innocent investors, ensure an interpretation of net equity for investors consistent with the intent of SIPA law, and press for parity between direct and indirect investors
  • continue to provide a means of support and education to empower investors and minimize further trauma to fellow victims
  • provide an honest and accurate portrait of Madoff and other victims in the public eye
  • Ensure that the media are presenting an unbiased and accurate portrait of the securities ponzi investor victim and the operations of entities charged with the responsibilities to protect them
  • create a bridge to all people and groups who have been victimized by ponzi schemes in general
  • hold legislatures and agencies to task to protect investors in the future and reestablish confidence in the American financial system
  • educate the investing public about existing safeguards or lack of such in the current financial system
  • NIAP’S LEGISLATIVE AGENDA

    NIAP’s most pressing objective is to focus on Madoff investors, direct and indirect alike, and other recent fraud victims. Our efforts will focus on six key areas:

  • elimination of clawback of innocent investors (SIPA)
  • implementation of the proper definition of net equity (SIPA)
  • extension of the carryback period & other tax code modifications (IRC)
  • expansion of the definition of customer to include indirect investors (SIPA)
  • modification of the definition of investor (IRC)
  • relief for investors in IRA’s and retirement plans
  • Subsequent areas of focus will include:

  • Broadscale restitution and protection for investors
  • Increase in SIPC coverage amounts and improvement in SIPC protection
  • Creation of an ongoing investment fraud victims task force to work with Congress and the Administration to insure maximum protection for investors
  • NIAP’S ORIGINS

    While NIAP seeks to radically improve the impact and effectiveness of the restitution and protection efforts, NIAP is an evolution of the first group formed to assist victims of the Madoff fraud — Madoff Survivors — comprised of hundred of participants nationwide of an active Google internet group, volunteers and a steering committee. The group has had a good record of success. Working together with the popular website, Madoff-Help.Com, NIAP is the result of nearly a year of planning that has included the participation of members of New York Area Victims Coalition, members of Bernard Madoff Victims.Org, Ponzi Victims Coalition and other groups and individuals from around the country. The intention is to bring together investment fraud victims to assist them in both maximizing their own help and efforts, and collaborate with investors to help insure a sound financial system.

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