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SEC Overlooked Stanford Fraud in 2003

Former employee warned agency, others of 'Ponzi scheme'

By Matt Cantor,  Newser Staff

Posted Feb 27, 2009 9:49 AM CST

(Newser) – A former employee of Sir Allen Stanford warned the SEC in 2003 of an “illegal Ponzi scheme” involving his firms, but regulators brushed off the allegations, the Financial Times reports. The whistleblower also told another regulatory body that one of Stanford’s companies was...   Read full story »

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