FBI Arrests High-Ranking Stanford Exec

Investment officer faces SEC obstruction charges
By Newser Editors and Wire Services
Posted Feb 26, 2009 8:09 PM CST
FBI Arrests High-Ranking Stanford Exec
The logo of Stanford Group in Zurich.   (AP Photo)

FBI agents have arrested the chief investment officer of Stanford Financial Group, accusing Laura Pendergest-Holt of obstructing an SEC fraud investigation. The SEC has been investigating allegations of an $8 billion investment fraud involving Texas billionaire R. Allen Stanford's financial group. Pendergest-Holt, arrested in Houston, will appear in court tomorrow. These are the first criminal charges in the case—the SEC has charged Stanford himself with only civil charges so far.
  (More Robert Allen Stanford stories.)

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X