The Securities and Exchange Commission knew that Texas-based financier R. Allen Stanford was probably running a Ponzi scheme 12 years before it halted the fraud. … Top officials in the agency’s Fort Worth office favored pursuing as many simple cases as possible rather than taking on more challenging ones like that presented by Stanford. The internal report also raised questions about a former head of enforcement in Fort Worth, Spencer Barasch, who played a “significant role in multiple decisions over the years to quash investigations of Stanford,” but then “sought to represent Stanford on three separate occasions after he left the Commission.” (
Wary Of Law
Wary Of Law
Wary Of Law
The Securities and Exchange Commission knew that Texas-based financier R. Allen Stanford was probably running a Ponzi scheme 12 years before it halted the fraud. … Top officials in the agency’s Fort Worth office favored pursuing as many simple cases as possible rather than taking on more challenging ones like that presented by Stanford. The internal report also raised questions about a former head of enforcement in Fort Worth, Spencer Barasch, who played a “significant role in multiple decisions over the years to quash investigations of Stanford,” but then “sought to represent Stanford on three separate occasions after he left the Commission.” (
Comments on this post are for paid subscribers