R. Allen Stanford’s former chief accounting officer, Gilbert Lopez, 70, and his former controller, Mark Kuhrt, 40, were sentenced to 20 years in prison for helping to conceal Stanford’s $7 billion Ponzi scheme.
Two former accounting executives at Stanford Financial Group Co. should be convicted of helping Texas financier R. Allen Stanford conceal the theft of billions of dollars from investors at his offshore bank, U.S. prosecutors told a Houston jury.
Two Stanford Financial Group Co. accountants actively assisted R. Allen Stanford in perpetrating a $7 billion investor fraud, a prosecutor alleged at the start of the last criminal trial tied to the Ponzi scheme.
A lawyer for Facebook Inc. said she was “unsure” whether company founder Mark Zuckerberg signed a contract that purportedly entitles a New York man to 84 percent of the world’s biggest social-networking service.
Global banking regulators need further talks to overhaul a liquidity rule for lenders after failing to overcome divisions on the standard during three days of meetings in Istanbul, according to two people familiar with the discussions.
The $1.6 billion that indicted financier R. Allen Stanford is accused of skimming from the funds of his investors was actually loaned by his Antiguan bank to start-up entities and other businesses he controlled, a fraud examiner testified.