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.
- 1 Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
- 2 Greece crisis: Alexis Tsipras accepts troika bailout proposals with conditions
- 3 German ethics council calls for incest between siblings to be legalised by Government
- 4 French woman dies in freak bungee jumping accident
- 5 Facebook rainbow profile pictures likely being tracked by social network
Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
Russian officials ban yoga because it's too much like a religious cult
Greece crisis: Alexis Tsipras accepts troika bailout proposals with conditions
German ethics council calls for incest between siblings to be legalised by Government
Britain First insist their videos aren't racist in bizarre attack on comedian Jason Manford
The moment a Queen's Guard soldier lost it and drew his gun at annoying tourist
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Greece crisis: The wider lesson is that it’s time to abandon this failed experiment in currencies
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
Pentagon accuses Russia of 'playing with fire' over nuclear threats towards Nato
They are neither a 'state' nor 'Islamic': Why we shouldn't call them Isis, Isil or IS
iJobs Money & Business
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...
£22500 - £27000 per annum + OTE £45K: SThree: Since our inception in 1986, STh...