Monday, January 30, 2012

Stanford sought to influence regulator

By Anna Driver
HOUSTON (Reuters) - Allen Stanford, charged with a $7 billion Ponzi scheme, sought to have a Antiguan regulator with oversight of his offshore bank dismissed after she rejected a number of the Texas financier's overtures to work together, she testified on Monday.
Prosecutors say Stanford bilked investors in more than 100 countries through the sale of fraudulent certificates of deposit from his offshore bank in Antigua.
"I'm not a yes person," said Althea Crick, who is chairman of the board of Antigua's Financial Services Regulatory Commission.
"I don't rubber stamp," she testified she told Stanford after a 1998 meeting where he asked that she report to him and a local business committee.

Read more: http://finance.yahoo.com/news/stanford-sought-influence-regulator-004719935.html

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