Stanford Investors Accuse Willis Of Aiding $7B Scheme

Law360, New York (October 2, 2013, 3:29 PM EDT) -- Stanford Financial Group investors from Mexico and Venezuela hit Willis Group Holdings Ltd. with a proposed class action in Texas federal court Tuesday accusing the insurance broker of helping Robert Allen Stanford's $7 billion Ponzi scheme by touting the company when it was illegally selling unregistered securities.

Willis allegedly helped “create and perpetuate the myth” that Stanford International Bank's CDs were safe investments by issuing endorsement letters that said the products were insured by Lloyds of London and other prominent insurers, when in reality, they were...
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