SEC Readying Civil Charges Against Stanford Execs: Report

Law360, Los Angeles (August 30, 2012, 7:57 PM EDT) -- The U.S. Securities and Exchange Commission has reportedly authorized civil charges against two former associates of convicted fraudster Robert Allen Stanford stemming from a $7 billion Ponzi scheme.

The SEC is planning to announce charges against Stanford Group Co.'s former president, Danny Bogar, and former chief compliance officer, Bernerd Young, for violating federal securities laws connected to the scheme, according to a Wall Street Journal report. The report, which cited anonymous sources “familiar with the matter," said the SEC may charge other Stanford Group officials as...
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