Stanford Arrested

We saw it coming. It was like OJ in the Bronco. Last night, Sir R. Allen Stanford stepped out of his girlfriend’s house in Virginia, walked over the the FBI car parked out front and asked if they had an arrest warrant. They did. The grand jury had released its indictment. The surprise was who … Read more »

SEC Settlements in Ponzi Scheme Cases: Putting Madoff and Stanford in Context

In the last six and half years the Securities and Exchange Commission has reached settlements with over 300 defendants in cases related to alleged Ponzi schemes. NERA Consulting has been tracking these SEC settlements since the Sarbanes-Oxley Act was enacted in July 2002. In that time frame there have been 12 Ponzi scheme settlements that … Read more »

The Stanford Fraud

Yesterday, the SEC filed a complaint against R. Allen Stanford and three of his companies: Antiguan-based Stanford International Bank, Houston-based broker-dealer and investment adviser Stanford Group Company, and investment adviser Stanford Capital Management. Tuesday morning, the Wall Street Journal reported on Stanford Depositors head to Antigua or Redemptions. Word had gotten out that the authorities … Read more »