Ex-Stanford Exec Gets 3 Years For Obstructing Ponzi Probe

Law360, Houston (September 13, 2012, 4:18 PM EDT) -- A Texas federal judge on Thursday sentenced the former chief investment officer for Stanford Financial Group to three years in prison for obstructing a government investigation of the firm's $7 billion Ponzi scheme.

Laura Pendergest-Holt was remanded into custody, the U.S. Department of Justice said in a statement. After prison, she will serve three years of supervised release, the DOJ said. During sentencing, U.S. District Judge David Hittner noted that she had no ability to pay a fine. 

Judge Hittner’s sentence was in line with a...
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Case Information

Case Title

USA v. Stanford et al


Case Number

4:09-cr-00342

Court

Texas Southern

Nature of Suit

Date Filed

June 18, 2009

Government Agencies

UK Financial Services

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