Headlines
Law doesn't bar class action suits not involving covered securities

Law doesn't bar class action suits not involving covered securities

WASHINGTON, Feb. 26 (UPI) -- The U.S. Supreme Court ruled 7-2 Wednesday a federal securities law doesn't bar state class action suits if they don't involve securities covered in the law.

The almanac

UPI Almanac for Tuesday, June 18, 2013.
By United Press International

UPI NewsTrack Business

Markets post gains Tuesday ... Report: Jobless to reach 202M in 2013 ... Stanford associate gets 10 years ... Business in central Atlantic region slows ... News from United Press International.

Stanford associate gets 10 years

HOUSTON, Jan. 22 (UPI) -- A U.S. judge handed former Stanford Financial Group Chief Financial Officer James Davis a five-year prison term for his part in a $7.2 billion fraud.

Banker's ties to Congress to be probed

WASHINGTON, Dec. 27 (UPI) -- Possible ties between a banker accused of stealing billions and U.S. politicians he contributed money to are under investigation, federal officials say.

Report: Stanford destroyed bank records

MIAMI, Dec. 6 (UPI) -- U.S. banker Allen Stanford went to great lengths to hide his failing financial condition as fraud investigators closed in, records and interviews indicate.

Ex-DEA agent indicted in $7B Ponzi scheme

MIAMI, Sept. 11 (UPI) -- A federal grand jury indicted a former federal drug agent in Miami for his alleged role in disgraced banker Allen Stanford's financial scandal.
Stanford's assets frozen in Britain

Stanford's assets frozen in Britain

LONDON, June 30 (UPI) -- The Serious Fraud Office in Britain said it had frozen the assets of accused Texas billionaire Allen Stanford at the request of U.S. authorities.

Officials close Stanford's Bank of Antigua

SAINT JOHN'S, Antigua and Barbuda, Feb. 21 (UPI) -- The Bank of Antigua has been seized by Caribbean regulators amid fraud accusations aimed at its owner, Allen Stanford, officials said.

Accused billionaire found, served

HOUSTON, Feb. 19 (UPI) -- FBI agents located Allen Stanford, the Texas financier suspected of running an Ponzi scheme, in Virginia Thursday, the bureau said.
Photos
1 of 5
Wiki

Robert Allen Stanford (born March 24, 1950) is a prominent financier, philanthropist, and sponsor of professional sports who has been charged with fraud. Stanford is the chairman of the privately held, wholly owned Stanford Financial Group of Companies. A fifth-generation Texan who resides in St. Croix, U.S. Virgin Islands, he holds dual citizenship, being a citizen of Antigua and Barbuda and a United States citizen.

In early 2009, Stanford became the subject of several fraud investigations, and on February 17, 2009, was charged by the U.S. Securities and Exchange Commission with fraud and multiple violations of U.S. securities laws for alleged "massive ongoing fraud" involving $8 billion in certificates of deposits. The FBI raided three of Stanford's offices in Houston, Memphis, and Tupelo, Mississippi. On February 27, 2009, the SEC amended its complaint to describe the alleged fraud as a "massive Ponzi scheme". He was arrested by the FBI on June 18, 2009.

Stanford grew up in Mexia, Texas. His father, James Stanford, is former mayor of Mexia and a member of the Board of Directors of Stanford Financial Group. His mother, Sammie, is a nurse. After his parents divorced in 1959, Stanford and his brother went to live with their mother. Both of his parents remarried.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Allen Stanford."
x
Feedback