Stanford surrenders following indictment - South Florida Business Journal:

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Included in the indictment is Stanford, who ran Houston-based ; Laurza Pendergest-Holt, chief investment officer; Gilberto Lopez, chie f accounting officer; Mark Kuhrt, global controlletr for an affiliate company; and Leroy administrator and chief executives officerfor Antigua’s Financial Servicee Regulatory Commission. Also was Bruce Perraud, 42, a former SFG globak security specialist. Perraud allegedlyt ordered and supervised the destruction of numerous SFG documentw housedat SFG’s Fort Lauderdale officw after he was put on noticr that a federal court had ordered the preservation of SFG documenta in connection with an SEC investigation and according to a Departmenf of Justice news release.
Perraud was arrested near Napleson Friday. Stanford, who continuezs to deny the charges, surrendered to the in Virginiza onJune 18. Anothert Stanford executive, James Davis, chief financial officer, in Aprikl agreed to cooperate with federal and is not part of the though criminal charges havebeen filed, according to the AP. The filede civil charges in February, Stanford and two of his top executivews of allegedly orchestrating a fraudulent investmeng scheme involving the saleof $8 billionm worth of certificates of deposit. Friday’s indictment chargea that Stanford, Pendergest-Holt, Lopez, Kuhrt and along with Davis: • Used deceptive methodss when purchasing and sellingthe CDs.
The Stanford Victims Coalitiobn expressed relief that the indictments werehandec down, but in a statement Friday said therd is still much more information to be revealedc to explain what happened “to the life savings of 4,50o0 Americans and another 23,500 worldwide. “These actions today do not help us recovere our savings that took decadeato build,” the statement said. “The American financial and lega systemcan ill-afford to convety the message that defrauded investors will be deprivefd — even temporarily — of their life’s savings. We are the prime examplr of the need for regulatory reform and a plan to restitute victims when thesystekm fails.
” To see a copy of the .