Zachary A. Goldfarb, Washington Post
SEC Review Finds Its Stanford Probe Proper
The SEC's investigation of Stanford's business was first delayed by his refusal to cooperate and difficulties in obtaining documents and other information from his bank in Antigua. The inquiry was then slowed by an FBI investigation into possible money laundering and wire fraud by Stanford, the SEC inspector general said in a report.
Stanford, awaiting trial at a prison in Conroe, Tex., faces criminal and civil charges for allegedly orchestrating a massive fraud from his brokerage firm in Houston, Stanford Financial Group, and his bank in Antigua, Stanford International Bank. After the SEC acted to stop the alleged fraud in February, questions surfaced about whether the agency had missed red flags in the nearly four years since it began looking at the financier.
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