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Stanford Assets Seized In Latin America: Report

Law360 (February 20, 2009, 12:00 AM EST) -- Regulators in several Latin American countries have reportedly taken actions against banker Robert Allen Stanford's operations in their countries to prevent runs on Stanford's banks by investors concerned about his alleged multibillion-dollar fraud.

Regulators in Venezuela, Panama, Colombia, Ecuador and Peru have taken action against banking units of Stanford Financial Group, Dow Jones reported Friday. The regulators were concerned about bank runs after the U.S. Securities and Exchange Commission sued Stanford and three of his companies on Feb. 16 for allegedly selling fraudulent certificates.

The Venezuelan...
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