Monthly Archives: April 2010

Antiguan Charged in Stanford Case Ordered to U.S.

By Miami Herald Antigua’s former top banking regulator, Leroy King, was ordered extradited to the U.S. to face charges he helped financier R. Allen Stanford conceal a $7 billion fraud scheme, Antigua’s top prosecutor said. Director of Public Prosecutions Anthony Armstrong said that Chief Magistrate Ivan Walters ordered King removed to the U.S. in a […]

SEC aware of Stanford Ponzi scheme since 1997

By Leslie Turk The Robert Allen Stanford alleged Ponzi scheme and its impact on middle class investors still isn’t getting the media attention it deserves. Last week, a blistering report on the incompetence of the Securities and Exchange Commission was buried by the Goldman Sachs fraud charges; both were released Friday. The Inspector General for […]

SEC Enforcement Lawyer Who Quashed Stanford Probes Later Did Legal Work For Stanford

The new inspector general report on the SEC’s handling of the Allen Stanford alleged Ponzi scheme case paints a devastating picture of the agency’s repeated failures to pursue the billionaire banker, despite a widespread belief within the SEC’s Fort Worth office that he was a fraud. At the center of the story is Spencer Barasch, […]

SEC’s corruption allowed Stanford’s fraud

The Securities and Exchange Commission knew that Allen Stanford was involved in a Ponzi scheme as far back as 1997, according to a report released Friday by SEC Inspector General David Kotz. The 159-page report said the scheme was able to continue for so long due to “institutional influences” within the SEC, and the agency’s desire to […]