BusinessWeek: "Billionaire R. Allen Stanford's worst enemies may be some of the former employees who once worked for his $50 billion Stanford Financial Group.
For months now, securities regulators have interviewed dozens of former employees of Stanford Financial, trying to get to the bottom of the firm's staple investment product: a high-yielding certificate of deposit issued by Stanford's offshore banking affiliate in the Caribbean island nation of Antigua. Over the past 12 months, the stock market and hedge funds have lost huge amounts of value even as Houston-based Stanford Financial continued to pay out above-average returns"
For months now, securities regulators have interviewed dozens of former employees of Stanford Financial, trying to get to the bottom of the firm's staple investment product: a high-yielding certificate of deposit issued by Stanford's offshore banking affiliate in the Caribbean island nation of Antigua. Over the past 12 months, the stock market and hedge funds have lost huge amounts of value even as Houston-based Stanford Financial continued to pay out above-average returns"
Comments
Post a Comment