Fraud

Robert Allen Stanford was a former prominent financier located in Houston, TX and a sponsor of professional sports, who is serving a 110-year prison house sentence having been convicted of charges that his investment company was a colossal Ponzi marriage proposal and fraud. Stanford was the chairman of the now defunct Stanford Financial Group of Companies. A fifth-generation Texan who once resided in Saint Croix, U.S. Virgin Islands, he holds dual citizenship, being a citizen of Antigua and Barbuda and the United States (www.boardsource.org) . In previous(p) 2009, Stanford became the subject of several fraud investigations, and on February 17, 2009, was charged by the U.S. Securities and alter Commission (SEC) with fraud and multiple violations of U.S. securities laws for alleged great ongoing fraud involving $7 billion in certificates of deposits. The U.S. Securities and change Commission (frequently abbreviated SEC) is a federal agency which holds un getd responsiblen ess for enforcing the federal securities laws and regulating the securities industry, the nations stock and options exchanges, and other electronic securities markets in the United States (http://www.sec.gov/). On February 27, 2009, the SEC amended its ill to run the alleged fraud as a massive Ponzi contrivance.

On March 6, 2012, Stanford was convicted on all charges exclude a single count of wire fraud. Average lampoon culprit Stanford fit the average fraud perpetrator by learned deception he made to his investors for personal gain making them believe he was investing their money, so they would have a ret urn on their investment in the future, inste! ad create damage to an individual because the money was lost. Some potential investors had non bought the assertion that Stanford Financial was a global investment juggernaut, in particular those who did due diligence on the Internet and set up references to foregoing SEC fines, deposits by drug cartels, the absence of a well-known auditing firm or a...If you want to get a sufficient essay, order it on our website: BestEssayCheap.com

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