SEC claims Stanford committed $8 billion Ponzi scheme!
Houston judge orders $300,000 bond for Holt and lawyers add charges in Dallas court. JusticeNewsFlash.com news by Dallas Business Litigation Lawyers
Dallas, TX (JusticeNewsFlash.com)–Attorneys for the U.S. Securities and Exchange Commission (SEC) www.sec.gov charged Texas billionaire, Sir Allen Stanford, his college roommate, and three of their companies in a Dallas federal court on Friday. The SEC amended its original civil complaint and added Ponzi scheme charges and misappropriating at least $1.6 billion of investors money over the last decade.
Antigua lawmakers moved to seize Stanford land assets while lawyers for the U.S. federal government continued to claim before a judge that Stanford and his colleagues misappropriated billions of dollars of investor funds and falsified financial statements issued by Stanford International Bank. SIB is based in Antigua.
Laura Pendergest-Holt, an executive in Stanford’s empire, faced a Houston federal court judge on Friday, after being the only person arrested in the case. Her bond was set at $300,000 after she was arraigned in court and charged with participating in the $8 billion Stanford fraud.
JusticeNewsFlash.com news by Dallas Business Litigation Lawyers