Stanford Exec Gets 3 Years For Obstructing Fraud Probe

Law360, New York (June 19, 2012, 2:10 PM EDT) -- Laura Pendergest-Holt, the former chief investment officer for Stanford Financial Group, has agreed to serve three years in prison for obstructing a government investigation of the firm's $7 billion Ponzi scheme, federal prosecutors in Texas announced Tuesday.

Pendergest-Holt will plead guilty to one count of obstruction of justice at a re-arraignment in Houston on June 21, the U.S. Department of Justice said in a statement. After prison, she will serve three years of supervised release and pay a fine to be determined by the court at...
To view the full article, register now.