Information for Clients
of
R. Allen Stanford and Stanford International Bank
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On February 17, 2009, the federal Securities and Exchange Commission (SEC) charged
Robert Allen Stanford and three of his companies
for orchestrating a fraudulent, multi-billion dollar investment scheme centering
on an $8 billion Certificate of Deposit (CD) program.
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Stanford's companies include Antiguan-based Stanford
International Bank (SIB), Houston-based broker-dealer and investment
adviser Stanford Group Company (SGC), and
investment adviser Stanford Capital Management.
The SEC also charged SIB chief financial officer James
Davis as well as Laura Pendergest-Holt,
chief investment officer of Stanford Financial Group (SFG), in the enforcement action.
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Pursuant to the SEC's request for emergency relief for the benefit of defrauded
investors, Judge Reed O'Connor of the United States District Court for the Northern
District of Texas entered a temporary restraining order, froze the defendants' assets,
and appointed Ralph S. Janvey as Receiver to oversee those assets. All questions regarding the status of those assets
must be directed to the Receiver. Information about the receivership
and how to contact the Receiver can be found at:
http://stanfordfinancialreceivership.com/.
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Information on the SEC’s investigation of this case can be found at:
http://www.sec.gov/news/press/2009/2009-26.htm). North Carolina investors
who were clients of R. Allen Stanford or one of the companies mentioned above may
file a complaint with the Securities Division of the North Carolina Department of
the Secretary of State by submitting the complaint form available at:
http://www.secretary.state.nc.us/sec/complaint.aspx.
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Investors are always encouraged to call the Securities Division at (800) 688-4507
to make sure that any investment offer and the person making the offer are properly
registered. Please be sure to check out our other resources for investors by clicking
here.
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