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SEC Charges Stanford Financial in $8B Fraud - washingtonpost.com
I'm holding you personally responsible, dana.
The Securities and Exchange Commission today charged a prominent Texas businessman and three of his companies with an $8 billion fraud in the sale of certificates of deposit. The case appears to mark one of the largest alleged frauds by a money manager in U.S. history.
Robert Allen Stanford and his companies sold $8 billion of CDs -- guaranteed fixed-income investment products -- to investors by "promising improbable and unsubstantiated high interest rates," the SEC said in a statement. The agency named in its complaint Stanford International Bank Ltd., based in Antigua, and related firms based in Houston.
...
A federal judge in North Texas, where the case was filed, has frozen Stanford's assets. The SEC said Stanford had not cooperated and that it is still investigating the alleged fraud.
I'm holding you personally responsible, dana.