Pendergest-Holt, Stanford Executive, Arrested by FBI

gristy

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Thu Feb-26-09 09:12 PM
Original message

Pendergest-Holt, Stanford Executive, Arrested by FBI

Source: Bloomberg

Feb. 26 (Bloomberg) -- Laura Pendergest-Holt, the chief investment officer of Houston-based Stanford Financial Group, was arrested by the FBI and charged with obstruction of a proceeding before an agency of the U.S., according to the Justice Department.

Pendergest-Holt, 35, appeared today before U.S. Magistrate Judge Mary Milloy at the federal courthouse in Houston, the department said in a statement.

The Securities and Exchange Commission sued Pendergest- Holt, Stanford Chairman R. Allen Stanford, and Stanford Chief Financial Officer James M. Davis on Feb. 17, accusing them of misleading investors about $8 billion in certificates of deposit in Antigua-based Stanford International Bank. The FBI is investigating the fraud allegation, according to a person familiar with the case.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=ao7Fg52h44iI&refer=home

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madrchsod

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Thu Feb-26-09 09:15 PM
Response to Original message

1. .the forensic accountants will be employed for years cleaning up this mess

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aquart

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Thu Feb-26-09 09:22 PM
Response to Reply #1

2. Hey, anyone who can keep a job, hallelujah!

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bluesmail

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Thu Feb-26-09 09:25 PM
Response to Original message

3. wow can they actually be going after real criminals... to get

to the big one..crap.

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barbtries

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Fri Feb-27-09 05:55 AM
Response to Original message

4. like dominos

they should fall

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NeoConsSuck

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Fri Feb-27-09 05:59 AM
Response to Original message

5. FBI arrests Stanford Financial Group exec

Source: Yahoo Finance

FBI agents have arrested the chief investment officer of troubled Stanford Financial Group, accusing Laura Pendergest-Holt of obstructing a Securities and Exchange Commission fraud investigation.
The SEC has been investigating allegations of an $8 billion investment fraud involving Texas billionaire R. Allen Stanford's financial group.

Pendergest-Holt was arrested Thursday in Houston. The FBI said she was taken to the federal detention center and will appear in court Friday morning.

The government alleges in a federal complaint that Pendergest-Holt obstructed the investigation with some of her answers to SEC investigators' questions.

Read more: http://biz.yahoo.com/ap/090226/stanford_exec_arrested.html

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seemslikeadream

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Fri Feb-27-09 05:59 AM
Response to Reply #5

6. Excuse me?

WHY are they not arresting Stanford?

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Demeter

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Fri Feb-27-09 05:59 AM
Response to Reply #6

8. You Got To Have Charges to Make an Arrest

They are still trying to figure out what-all he did with the money...gotta have some evidence and specifics to show the judge. "They're doing it nice and tight and legal. They had charges for her...so they booked her.

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seemslikeadream

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Fri Feb-27-09 05:59 AM
Response to Reply #8

9. When someone gets caught stealing 20 bucks from a gas station

Edited on Thu Feb-26-09 10:15 PM by seemslikeadream

they don't try and figure out how the criminal spent the money before the arrest him

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Demeter

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Fri Feb-27-09 05:59 AM
Response to Reply #9

10. But You Need to Specify an Amount of the Theft

and who were the victims. That's what they are investigating.

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seemslikeadream

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Fri Feb-27-09 05:59 AM
Response to Reply #10

13. Please how long does it take?

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x58563

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EFerrari

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Fri Feb-27-09 05:59 AM
Response to Reply #6

11. Because first they'd have to fire him?

:shrug:

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seemslikeadream

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Fri Feb-27-09 05:59 AM
Response to Reply #11

12. ............

:rofl:

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jimshoes

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Fri Feb-27-09 05:59 AM
Response to Reply #5

7. How long in jail

before Laura Pendergest-Holt starts singing like a canary? It's high time we start finding out who the big thieves are.

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