Texan tycoon Stanford in more `Ponzi” troubleFebruary 28th, 2009 - 5:42 pm ICT by ANI
London, Feb.28 (ANI): Texas billionaire Sir Allen Stanford has placed himself in more hot water after being accused of carrying out a massive Ponzi scheme over at least a decade and misappropriating at least 1.6 billion dollars of investors money. Sports promoter Stanford, 58, stands accused along with his former university roommate James Davis.
On Friday, according to The Sun, a Houston judge ruled that Laura Pendergest-Holt, the only person arrested in the eight billion dollar Allen Stanford fraud investigation, could walk free after she posted a 300,000 dollar bond. (ANI)
Tags: billion dollars, decade, dollar bond, fraud investigation, holt, hot water, houston judge, investors, laura pendergest, london feb, money sports, ponzi scheme, roommate, sports promoter, stanford, sun, texas billionaire, tycoon