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SEC accused of sitting on Stanford fraud for a decade
US regulator the Securities and Exchange Commission (SEC) was aware that Allen Stanford and Stanford Financial Group (SFG) were potentially orchestrating a massive fraud as far back as 1997 but did nothing to protect investors for 10 years, a damning report has claimed.
The independent account by the SEC's Office of Inspector General concluded that the SEC quashed enforcement actions. This is despite having received multiple complaints accusing Stanford of operating a massive Ponzi scheme since 1997 - and the...
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