State prosecutors urge overhaul of New York's white-collar fraud statutes in hearing Prosecutors, attorneys general and district attorneys told a joint Senate hearing New York's scheme-to-defraud and related statutes are outdated and hinder prosecutions of modern, large-scale frauds; witnesses urged the "Scam Act," grand-jury reforms and new felony tiers tied to victims and scale.

Senator Myrie is leading the charge to modernize New York's outdated white-collar crime laws, arguing that current statutes are failing to hold sophisticated fraudsters accountable.

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