What happened with the “stanford financial group”?was – Financier R. Allen Stanford guilty?
Former financier R. Allen Stanford, accused of a $7 billion fraud over allegedly bogus certificates of deposit, faces arraignment on June 19, one day after federal agents arrested him in Virginia. A grand jury has been investigating Stanford, who has said in several interviews that he expected to be indicted, since the Securities & Exchange Commission filed civil fraud charges against him. Stanford is scheduled to appear Friday in a Richmond (Va.) federal court to hear the charges, the Associated Press reported. In a statement released today, Stanford’s lawyer Richard DeGuerin said that Stanford offered to turn himself into federal authorities when charges were returned, but the Justice Dept. “inexplicably refused that offer.” The Justice Dept. has not commented on DeGuerin’s allegation. In February, regulators charged Stanford, 59, with misleading investors about the security of high-yielding certificates of deposit sold by the Antigua bank that he controls. That outfit, Stanford Inte
Robert Allen Stanford, 59, chairman of the Houston-based Stanford Financial Group (SFG), three SFG executives and the former chief executive officer of the Antiguan bank regulatory agency have been indicted on fraud and obstruction charges related to a $7 billion scheme to defraud investors, announced Lanny A. Breuer, Assistant Attorney General of the Criminal Division; Tim Johnson, U.S. Attorney for the Southern District of Texas; Kevin Perkins, Assistant Director of the FBI’s Criminal Investigative Division; Eileen Mayer, Chief of Internal Revenue Service – Criminal Investigation; and Greg Campbell, Deputy Chief Inspector, U.S. Postal Inspection Service. Also charged in an indictment returned in Houston yesterday and unsealed today was Laura Pendergest-Holt, 35, SFG’s chief investment officer; Gilberto Lopez, 66, SFG’s chief accounting officer; Mark Kuhrt, 37, SFG’s global controller; and Leroy King, 63, the former administrator and CEO of Antigua’s Financial Services Regulatory Comm
Financier R. Allen Stanford was indicted Thursday and charged with orchestrating fraud through his eponymous Caribbean-based financial firm, and hours later surrendered to federal agents in Virginia. The Justice Department is expected Friday to announce the charges returned by a Houston grand jury, according to people familiar with the matter. The Securities and Exchange Commission had filed a civil lawsuit alleging fraud against Mr. Stanford and two other top executives at his firm, Stanford Financial Group. Dick DeGuerin, Mr. Stanford’s attorney, said Mr. Stanford surrendered to agents outside the home of his girlfriend in northern Virginia. Mr. DeGuerin said he hadn’t seen the indictment but that Mr. Stanford was expected to appear in court Friday morning. Sources: http://online.wsj.com/article/SB124537678399830159.html?
