• English   Deutsch   
  •  GMT      
  • LONDON      
  • FRANKFURT      
  • NEW YORK      
  • SAO PAULO      
  • TOKYO      
  • SYDNEY      
Hedge Fund Database
Morgan Hedge Fund Database
USERNAME

PASSWORD

FEATURED SERVICE PROVIDER

  Hedge Fund Search
Name, ISIN, Ticker:
  

Hedge Funds Search Detailed Search
  Hedge Fund Directories
Listed Hedge Funds:9,895
HF Professionals:16,361
Service Provider:506
Stanford??s finance chief pleads guilty
 
  Hedgeweb - FRI, AUG 28 2009
Funds & Investment James Davis, the chief financial officer at the Stanford Financial Group, on Thursday pleaded guilty to charges that he helped Sir Allen Stanford, the company??s founder, in an alleged $7bn Ponzi scheme.

Mr Davis, 60, who appeared at the US district court in Houston as part of a plea agreement with the authorities, was subdued as he pleaded ??guilty, your honour? to three felony counts, including fraud and obstruction of justice, for which he could face a maximum prison term of 30 years. He also agreed to forfeit $1bn.

Prosecutors in June accused Sir Allen, Mr Davis and Laura Pendergest-Holt, Stanford??s chief investment officer, of pledging high rates of return on $7bn of certificates of deposit issued by Stanford International Bank, and then allegedly misappropriating most of the funds.

 
 
© Morgan Hedge™ · HEDGEweb™
Morgan Hedge and HEDGEweb are Trademarks of morganhedge.com, TAA LLC and VIImedia S.A.