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Stanford

February 20, 2009

While Sir Allen Stanford was being served civil papers by the FBI in relation to his alleged fraud, his father was explaining to a US newspaper why he is standing by his son.

While Sir Allen Stanford was being served civil papers by the FBI in relation to his alleged fraud, his father was explaining to a US newspaper why he is standing by his son.

James Stanford, 81, sits on the board of Stanford International Bank which is at the centre of the allegations according to the US Securities and Exchange Commission.

He is also one of the "close circle of family and friends" with whom the SEC believes Sir Allen runs a global network of independent financial services companies that was set in 1932 by James' father Lodis B Stanford.

February 18, 2009

The SEC has charged Sir Allen Stanford, chairman of family-owned Stanford Financial Group, and three of his companies for orchestrating a fraudulent, multi-billion dollar investment scheme centering on an $8 billion "certificates of deposit" programme.

The SEC has charged Sir Allen Stanford, chairman of family-owned Stanford Financial Group, and three of his companies for orchestrating a fraudulent, multi-billion dollar investment scheme centering on an $8 billion "certificates of deposit" programme.

SFG is a privately-held global network of independent financial services companies founded by Sir Allen's grandfather, Lodis B Stanford, in 1932. The group has $50 billion in assets under management or advisement.

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