U.S. Charges Stanford Group with Fraud, Freezes Assets and Appoints Receiver

On February 17, 2009, the Securities and Exchange Commission (SEC) charged Robert Allen Stanford and three of his companies on engaging in a fraudulent, multi-billion dollar investment scheme based on an $8 billion CD program. A U.S. District Court in Dallas granted a temporary restraining order, an order freezing assets, appointing a receiver, an order requiring preservation of documents, and authorizing expedited discovery...[more]