Stanford Exec Faces First Criminal Charge

Probe of alleged Ponzi scheme nabs chief investment officer
By Jason Farago,  Newser Staff
Posted May 13, 2009 8:26 AM CDT
Stanford Exec Faces First Criminal Charge
Investigators from the US Marshals office walk out of the offices of Stanford Financial Group and head to their other office building in the Galleria, in Houston.   (AP Photo/Houston Chronicle, Steve Campbell, File)

A federal grand jury in Houston yesterday handed up the first criminal indictment in Stanford Financial Group's alleged Ponzi scheme, reports the Houston Chronicle. Chief investment officer Laura Pendergest-Holt, 35, faces two counts of obstruction. She and boss Allen Stanford already face accusations in a civil suit by the SEC. She is currently free on a $300,000 bond on another obstruction charge related to the SEC case.
(More Robert Allen Stanford stories.)

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