SEC files amended complaint against Stanford

By Kleinheider Posted on February 27, 2009 at 7:00 pm

From the Commercial Appeal:

Today, the Securities and Exchange Commission released an amended complaint against Stanford and its top executives, R. Allen Stanford, James M. Davis and Laura Pendergest-Holt.

The complaint alleges that “for at least a decade,” Davis and Allen Stanford, through the companies they control under the Stanford umbrella, “executed a massive Ponzi scheme.”

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Tags: financial institutions, financial regulation, governmental investigations, Ponzi schemes, SEC, Securities and Exchange Commission, Stanford Financial Group Inc., Stanford International Bank Ltd.  

Securities trouble for largest shareholder of local golf company

By Geert De Lombaerde Posted on February 12, 2009 at 8:55 pm

Stanford International Bank, which as of last spring owned more than 80 percent of the shares of Brentwood-based ForeFront Holdings, is being investigated by securities regulators over the sale of certificates of deposit with a remarkably consistent performance record.

“That type of return ignores the business cycle,” said L. Burke Files, principal of Financial Examinations & Evaluations Inc., a Tempe, Arizona-based financial investigation firm. “His returns fall outside the bell curve of probability.”

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Tags: 5% owners, banking, certificates of deposit, Financial Industry Regulatory Authority, financial regulation, ForeFront Holdings Inc., investment management, Securities and Exchange Commission, sports business, Stanford Financial Group Inc., Stanford International Bank Ltd.