Cricket Benefactor Allen Stanford, Left Stumped - HotUKDeals
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Cricket Benefactor Allen Stanford, Left Stumped

myaser88 Avatar
7y, 8m agoPosted 7 years, 8 months ago
SEC charges Stanford with fraud

By Stacy-Marie Ishmael in New York

Published: February 17 2009 17:02 | Last updated: February 17 2009 17:39
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myaser88 Avatar
7y, 8m agoPosted 7 years, 8 months ago

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The US Securities and Exchange Commission on Tuesday charged Sir Allen Stanford, the billionaire Texan businessmen, and three of his companies with a ”massive” fraud through his Antigua-based offshore bank.

Stanford International Bank, located in St John’s on the Caribbean island, has been the focal point of much controversy in recent weeks, sparked in part by a analyst’s note that was highly critical of the bank’s apparent ability to deliver consistently and significantly market beating returns on its $8.5bn portfolio of depositors’ assets.
SEC statement - Feb-17
FT Alphaville: The Stanford Series - Feb-17
Cricket fanatic suddenly on a sticky wicket - Feb-12
A man of grand gestures for sports - Feb-12

As well as as SIB, the SEC has also charged Houston-based broker-dealer and investment adviser Stanford Group Company, 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, in the enforcement action

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