WASHINGTON - Federal regulators are charging R. Allen Stanford and three of his companies with a "massive" fraud that centered around high-interest-rate CDs.
The Securities and Exchange Commission's complaint, filed in federal court in Dallas, alleges that Stanford International Bank sold about $8 billion of so-called certificates of deposit to investors by promising "improbable and unsubstantiated high interest rates." More... Video... Discount Magazine Subscriptions - Discount Cigarettes & Tobacco - Nutty News Marketplace - Keg Works
The Securities and Exchange Commission's complaint, filed in federal court in Dallas, alleges that Stanford International Bank sold about $8 billion of so-called certificates of deposit to investors by promising "improbable and unsubstantiated high interest rates." More... Video... Discount Magazine Subscriptions - Discount Cigarettes & Tobacco - Nutty News Marketplace - Keg Works
