SEC Sat On Stanford Case For Years: Report

Law360, New York (April 16, 2010, 7:27 PM EDT) -- The U.S. Securities and Exchange Commission suspected that Robert Allen Stanford was running a Ponzi scheme as far back as 1997 but declined to rein him in because it was more interested in pursuing “slam dunk” cases, according to an SEC report made public Friday.

The report also slams Spencer Barasch, a former SEC regional head of Enforcement who allegedly declined to take action on the Stanford file several times. Barasch, who left the SEC to head a practice group at Andrews Kurth LLP, also insisted...
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