 | |
| Company type | Privately owned |
|---|---|
| Industry | Global financial services |
| Genre | Global financial services |
| Founder | Robert Allen Stanford |
| Defunct | February 17, 2009 |
| Fate | Placed in receivership on allegations that this company was a Ponzi scheme |
| Headquarters | Houston, Texas, United States |
Key people | Robert Allen Stanford, chairman and CEO Laura Pendergest-Holt, chief investment officer James Davis, CFO |
| Services | Wealth management |
| Owner | Robert Allen Stanford |
| Divisions | Stanford Capital Management Stanford Group Company Stanford International Bank Ltd |
The Stanford Financial Group was a privately held international group of financial services companies controlled by Allen Stanford, until it was seized by American authorities in early 2009. Headquartered at 5050 Westheimer in Uptown Houston, Texas, it had 50 offices in several countries, mainly in the Americas, included the Stanford International Bank, and was said to have managed US$8.5 billion of assets for more than 30,000 clients in 136 countries on six continents.[1][2] On February 17, 2009, U.S. Federal agents placed the company into receivership due to charges of fraud.[3][4] Ten days later, the U.S. Securities and Exchange Commission amended its complaint to accuse Stanford of turning the company into a "massive Ponzi scheme".[5]
- ^ Cite error: The named reference
msnbcwas invoked but never defined (see the help page). - ^ "Contact Us > North America." Stanford Financial Group. Retrieved on February 18, 2009.
- ^ Cite error: The named reference
Krausswas invoked but never defined (see the help page). - ^ See generally, Securities and Exchange Commission, Plaintiff v. Stanford International Bank Ltd., Stanford Group Company, Stanford Capital Management LLC, R. Allen Stanford, James M. Davis, Laura Pendergest-Holt, Defendants, case no. 3:09-cv-00298-L; U.S. District Court for the Northern District of Texas (Dallas).
- ^ Driver, Anna (27 February 2009). "U.S. charges Stanford with massive Ponzi scheme". Reuters. Thomson Reuters. Retrieved 28 February 2009.