NEW YORK, April 17 (UPI) -- U.S. regulators suspected Texas financier R. Allen Stanford was running a Ponzi scheme for a decade before seriously investigating him, a report says.
The Wall Street Journal says the report, by the inspector general of the Securities and Exchange Commission, found SEC examiners concluded four times between 1997 and 2004 Stanford's businesses were fraudulent but decided each time not to pursue him.