Guest: Florida residents hit hard in municipal bond fraud

Guest: Florida residents hit hard in municipal bond fraud

RICHARD LAWLESS
RICHARD LAWLESS
Guest: Florida residents hit hard in municipal bond fraud

Richard Lawless
Special to Historic City News

2015 witnessed what is likely to be the first of many large municipal bond defaults. Puerto Rico defaulted on $69 billion dollars in bonds. 80% of these bonds were owned by residents in the 50 states with New York residents coming in at over $2 billion followed by Florida residents at just under $2 billion.