The current statue of limitations for civil penalties set forth in 28 U.S.C. § 2462 is five years since the crime accrued. Since the Supreme Court ruling in Gabelli vs. SEC, it has had the effect of hampering the SEC's capacity to enact civil penalties proceedings against fraudsters and subsequently lets free many of the financial actors responsible for the current fiscal crisis which began in 2008. Their repose has come at the cost of justice and massive upward wealth distribution. Changing the language of 28 U.S.C. § 2462 from five to fifteen years for investment and financial violations would prevent further cases such as Wyly and Pentagram Capital Management from falling through the cracks and would disallow fraudsters to enter tolling agreements for lesser charges.



