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 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.
Laura Pendergest Holt, the former chief investment officer for Stanford Financial Group Co., was sentenced to three years in prison for obstructing a U.S. Securities and Exchange Commission probe of a $7 billion Ponzi scheme at the company.
Stanford International Bank Ltd.’s $1.7 billion in undisclosed loans to its owner, indicted financier R. Allen Stanford , are proof of the bank’s involvement in fraud, an examiner said in a U.S. court trial in Houston.
A former Stanford Financial Group Co. accountant testified that he grew concerned about $2 billion R. Allen Stanford secretly borrowed from his Antiguan bank after hearing the company’s finance chief say repeatedly in 2007 and 2008, “The emperor has no more clothes.”