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Tuesday, February 17, 2009

More crooks

They just keep coming:

HOUSTON — Stopping what it called a “massive ongoing fraud,” the Securities and Exchange Commission on Tuesday accused Robert Allen Stanford, the chief of the Stanford Financial Group, of fraud in the sale of about $8 billion of high-yielding certificates of deposit held in the firm’s bank in Antigua. Also named in the suit were two other executives and some affiliates of the financial group.

Read the story here. More here.

Update - U.S. agents enter Stanford Financial Houston office

See my earlier post - More Ponzi Madness!!!



Anonymous said...

I can only point out to an excellent NY Times article. Bottom line: the SEC is not acting in consumers' best interest and there is no incentive for its employees to actively disclose fraud.


Jake said...

The are all crooks X.