HE TAKES THE FIFTH!
By Anna Driver
HOUSTON, March 11 (Reuters) - Allen Stanford, the billionaire Texan accused of an $8 billion fraud by U.S. regulators, has refused to cooperate in the government's probe, a court filing showed on Wednesday.
The U.S. Securities and Exchange Commission has charged Stanford, two of his top aides and three of his companies with operating a long-running fraud involving high-yield certificates of deposit. He is also accused of misappropriating $1.6 billion in investor funds.
"I hereby assert my privilege against self-incrimination under the Fifth Amendment to the United States Constitution and and decline to testify or provide an accounting, and will continue to decline to testify, provide an accounting or produce any documents related to the matters set forth in the Commission's complaint," he said in a document dated March 9 that was filed in U.S. District Court in Dallas.
In a prior court filing, Stanford's attorney Charles Meadows has said the SEC's claims were false.
Stanford Chief Financial Officer James Davis, who is also accused of the fraud, has said he would not cooperate with the government's civil investigation. LinkHere
HOUSTON, March 11 (Reuters) - Allen Stanford, the billionaire Texan accused of an $8 billion fraud by U.S. regulators, has refused to cooperate in the government's probe, a court filing showed on Wednesday.
The U.S. Securities and Exchange Commission has charged Stanford, two of his top aides and three of his companies with operating a long-running fraud involving high-yield certificates of deposit. He is also accused of misappropriating $1.6 billion in investor funds.
"I hereby assert my privilege against self-incrimination under the Fifth Amendment to the United States Constitution and and decline to testify or provide an accounting, and will continue to decline to testify, provide an accounting or produce any documents related to the matters set forth in the Commission's complaint," he said in a document dated March 9 that was filed in U.S. District Court in Dallas.
In a prior court filing, Stanford's attorney Charles Meadows has said the SEC's claims were false.
Stanford Chief Financial Officer James Davis, who is also accused of the fraud, has said he would not cooperate with the government's civil investigation. LinkHere
posted by Kangaroo Brisbane Australia at 4:39 PM
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