WEDC Fraud Bill Gets Bipartisan Support

Lawmakers from both parties are moving forward with a bill that could send business owners to prison if they defraud the Wisconsin Economic Development Corporation.

At a public hearing, Powers Lake Republican Rep. Samantha Kerkman said the state should punish fraud, no matter who's committing it.

"Be it $200 in the FoodShare program or be it $100,000 under the WEDC, fraud is fraud," she said.

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Ken Notes: Not a bad idea, but companies are presenting their beast case scenarios they are not lying or committing fraud they are being hopeful. More that half of new business ventures fail and we need to recognize that. If it were a sure thing banks and venture capitalists would finance them and WEDC would not even be at the table. I do suggest we get rid of the politics and favoritism. I also suggest that we partner more with the banks and venture capitalists to shave the risk. This legislation is a feel good solution that will not fix the problem but it won`t hurt anything....