Information for Clients
R. Allen Stanford and Stanford International Bank
On February 17, 2009, the federal Securities and Exchange Commission (SEC) charged Robert Allen Stanford and three of his companies for orchestrating a fraudulent, multi-billion dollar investment scheme centering on an $8 billion Certificate of Deposit (CD) program.
Stanford's companies include Antiguan-based Stanford International Bank (SIB), Houston-based broker-dealer and investment adviser Stanford Group Company (SGC), and investment adviser Stanford Capital Management. The SEC also charged SIB chief financial officer James Davis as well as Laura Pendergest-Holt, chief investment officer of Stanford Financial Group (SFG), in the enforcement action.
Pursuant to the SEC's request for emergency relief for the benefit of defrauded investors, Judge Reed O'Connor of the United States District Court for the Northern District of Texas entered a temporary restraining order, froze the defendants' assets, and appointed Ralph S. Janvey as Receiver to oversee those assets. All questions regarding the status of those assets must be directed to the Receiver. Information about the receivership and how to contact the Receiver can be found at:
Information on the SEC’s investigation of this case can be found at: North Carolina investors who were clients of R. Allen Stanford or one of the companies mentioned above may file a complaint with the Securities Division of the North Carolina Department of the Secretary of State by submitting the complaint form.
Investors are always encouraged to call the Securities Division at (800) 688-4507 to make sure that any investment offer and the person making the offer are properly registered. Please be sure to check out our other resources for investors by clicking here.