Texas Billionaire Allen Stanford Charged with Fraud by the SEC

Texas Billionaire Charged with Fraud by the SEC

February 17, 2009 Source: The Associated Press Relevance: 65.472% U.S. authorities charged Texas billionaire Allen Stanford and three of his companies with ''massive ongoing fraud'' on Tuesday as federal agents swooped in on Stanford's U.S. headquarters



U.S. authorities charged Texas billionaire Allen Stanford and three of his companies with ''massive ongoing fraud'' on Tuesday as federal agents swooped in on Stanford's U.S. headquarters.
In a complaint filed in federal court in Dallas, the U.S. Securities and Exchange Commission accused the cricket-loving Stanford and two other top executives at Stanford Financial Group of fraudulently selling $8 billion in high-yield certificates of deposit.



SEC charges Texas financier with 'massive' fraud
February 17, 2009 Source: The Associated Press Relevance: 85.006% Federal regulators on Tuesday charged Texas financier R. Allen Stanford and three of his firms with a "massive" fraud that centered around high-interest-rate certificates of deposit, and raided some of the companies' offices



Antigua PM urges calm amid Stanford investigation
February 18, 2009 Source: The Associated Press Relevance: 58.77% Antigua's prime minister urged people Tuesday not to panic over a U.S. fraud probe involving the Caribbean country's most prominent business.



Stanford Bank in Venezuela unaffected by probe
February 18, 2009 Source: The Associated Press Relevance: 76.623% The decision by the U.S. federal government to freeze Stanford Bank's assets amid investigations into investment-fraud allegations will not affect the company's branches in Venezuela, a spokeswoman said Tuesday