Stanford's investment boss to receive three years' jail
Wednesday 20 June 2012
Laura Pendergest-Holt, the former chief investment officer for Allen Stanford, has agreed to plead guilty and will receive a three-year prison sentence for her role in a $7bn (£4.5bn) fraud. Earlier this month, the former billionaire Stanford was sentenced to 110 years in prison for running a Ponzi scheme in which he stole money from investors around the world to finance an extravagant lifestyle.
In March, a jury convicted Stanford of 13 charges including fraud and conspiracy for selling certificates of deposit from his bank in Antigua to thousands of investors in the US and Latin America. He had already spent some of those proceeds on yachts, girlfriends, sponsorship of a cricket tournament and other accoutrements of a high-rolling life.
Ms Pendergest-Holt, pictured, will plead guilty to a single obstruction of justice charge tomorrowbefore the US District Judge David Hittner. She was indicted on obstruction of justice and conspiracy charges related to her allegedly false testimony to the US Securities & Exchange Commission, which was investigating the fraud.
Emergency landing at Heathrow sparks further controversy over London airport capacity
Unrest may spread across Europe, warns Red Cross chief
French government seeks to ban extreme right-wing group
BNP and EDL accused of attempt to fuel racial hatred after Woolwich terror attack
You want to get an Eton scholarship? All you need to do is answer four (not so simple) questions
- 1 What, let gays get married? We must be bonkers
- 2 Rocky Horror star Tim Curry 'suffers major stroke'
- 3 Exclusive: How MI5 blackmails British Muslims
- 4 Lord of the Sings: Sir Christopher Lee, 91, to release heavy metal album
- 5 Exclusive: Woolwich killings suspect Michael Adebolajo was inspired by cleric banned from UK after urging followers to behead enemies of Islam
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Nook is donating eReaders to volunteers at high-need schools and participating in exclusive events throughout the campaign.
Get the latest on The Evening Standard's campaign to get London's children reading.
Win anything from gadgets to five-star holidays on our competitions and offers page.