Category KLS

SEC Inspector General to Investigate Stanford Texas Receivership

By KACHROO LEGAL SERVICES, P.C. We have learned today that SEC Inspector General David Kotz will begin an investigation of the Texas Receivership of Allen Stanford, pursuant to a request by Kachroo Legal Services, P.C. The request by Kachroo Legal Services, P.C. to initiate an investigation attached the recently filedMotion to Intervene and Declaration based on […]

Stanford Investors Sue SEC for Losses in Alleged Swindle

The U.S. Securities and Exchange Commission was sued by eight of indicted financier R. Allen Stanford’s investors, who claim regulators’ negligence and misconduct caused their losses. The investors, in a lawsuit filed yesterday in federal court in Dallas, said regulators should have investigated Stanford earlier and detected what the agency later concluded was a “massive” Ponzi scheme. […]

The US government can be sued on account of the fantastic negligence of the SEC

Information, as expected, has been coming out, even if slowly. Inparticular, excellent sources of information and ideas seem to include the SEC Inspector General’s two Reports on the Madoff case; the IG’s two reports on the all too analogous Stanford scam; and complaints, among others, filed against J.P. Morgan Chase, against a money manager, now […]