Willis Group Sued Again Over Alleged Stanford Plot

Law360, New York (August 7, 2009, 1:23 PM EDT) -- Willis Group Holdings Ltd. has been belted with a second putative class action claiming that the global insurance broker aided Stanford Financial Group’s alleged $7 billion Ponzi scheme.

Several Venezuelan investors filed suit Thursday in the U.S. District Court for the Northern District of Texas, accusing Willis Group, fellow insurance broker Bowen Miclette & Britt Inc. and two individual defendants of helping to perpetuate the massive fraud.

The defendants routinely provided Stanford with bogus “safety and soundness” letters, essentially serving to promote the certificates of deposit...
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