Tuesday, February 17, 2009

Bernie Has Company, SEC Charges Stanford With "Massive, Ongoing Fraud"

$8 Billion is at stake as the SEC has filed a complaint against Stanford International Bank and related companies, and federal marshals have raided the Antigua-based Houston offices of R. Allen Stanford, a eccentric Billionaire. The safety of the other $42 Billion or so in assets is unknown at this time. For full details:
Text Of SEC Statement On R. Allen Stanford Charges (WSJ)
Allen Stanford Charged With "Massive, Ongoing Fraud" (Bloomberg)

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