Wednesday, February 18, 2009

Move over Madoff: Stanford ripoff rivals your crimes!

FROM THE US SECURITIES AND EXCHANGE COMMISSION web site...

The Securities and Exchange Commission charged Robert Allen Stanford yesterday and three of his companies for orchestrating a fraudulent, multi-billion dollar investment scheme centering on an $8 billion CD program.


Additional Materials

Stanford's companies include Antiguan-based Stanford International Bank (SIB), Houston-based broker-dealer and investment adviser Stanford Group Company (SGC), and investment adviser Stanford Capital Management. The SEC also charged SIB chief financial officer James Davis as well as Laura Pendergest-Holt, chief investment officer of Stanford Financial Group (SFG), in the enforcement action.

For the entire article click here.

No comments:

Some Scary Halloween Costumes: What Would Happen If There Wasn't a Dress Code in Congress?

Inspired by Rep. "Gym" Jordan's refusal to wear a suit jacket in the Capitol (or anywhere else), I have a stunning prediction...