SEC being sued over failure to act on Ponzi

Stock and Bond Fraud, including Boiler Rooms / Pump and Dump Schemes, Mutual Fund & Hedge Fund Fraud, FOREX scams, plus Churning, Private Placements, Venture and Bridge Funding, IPOs, Viaticals Fraud, HYIP and Prime Bank scams, MTNs, Historical Notes, Recovery Schemes, etc. Includes the Jim Norman Project and the Michael Dotson Project and similar HYIP scams.
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notorial dissent
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SEC being sued over failure to act on Ponzi

Postby notorial dissent » Sat Sep 08, 2012 10:35 am

According to a Bloomberg article the SEC is being sued for failing to act after it had determined R. Allen Stanford was operating a Ponzi scheme out of Stanford International Bank based in Antigua.

The judge ruled that the SEC "was obligated to report Stanford's company to the Securities Investor Protection Corp." and "This obligation to report was not discretionary because the controlling statute mandates that the report be made." The judge ruled that the case could go to trial.
The fact that you sincerely and wholeheartedly believe that the “Law of Gravity” is unconstitutional and a violation of your sovereign rights, does not absolve you of adherence to it.

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