Stanford Investors Sue BDO For Alleged Ponzi Scheme Role

Law360, New York (May 26, 2011, 9:23 PM EDT) -- Investors who lost money in Robert Allen Stanford's $7 billion Ponzi scheme targeted BDO USA LLP, the longtime auditor of Stanford's companies, in a putative class action Thursday in Texas alleging the auditor was complicit in the fraud.

In the suit filed in the Northern District of Texas, a putative class of investors who bought and still hold certificates of deposit or other deposit accounts with Stanford International Bank Ltd. accuse BDO of manipulating facts during the 12 years it audited Stanford's companies, allowing the scheme...
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