The Kentucky Department of Financial Institutions says checks from the recent Morgan Keegan settlement will be mailed today to investors who filed an approved claim. The fund administrator, A.B. Data, will issue 1,930 checks totaling just over $4.5 million to Commonwealth investors.
The Kentucky Office of Unemployment and Training reported Wednesday that the jobless rate for the state fell to 8.6 percent in March, from 8.7 percent in February. The rate was 1.1 percentage points below the March 2011 rate. The March numbers mark the ninth consecutive month the jobless rate has declined. The largest job gains were seen in transportation and utilities with an increase of 1,900 jobs, followed by the leisure and hospitality sector with 1,800. The manufacturing and construction sector both reported job losses in March.
Kentucky Speaker of the House Greg Stumbo says he is filing legislation to give whistleblowers strong financial incentive to step forward if state tax dollars are being misused. Stumbo, a Democrat, said Tuesday the False Claims Act would root out fraud and potentially reduce the state's budget deficit by millions of dollars. He said it would "extend far beyond Medicaid" to be used "anywhere fraud with state tax dollars is taking place." The federal government created a false claims act in 1986, and several other states now have similar laws. Those found guilty would be liable for up to