SEC charges Stanford with fraud

View an online version of this email here.  All times are London time: Tuesday Feb 17 2009 Breaking news SEC charges Stanford with fraud The Securities and Exchange Commission on Tuesday charged Sir Robert Allen Stanford, the billionaire Texan businessmen, of a "massive, ongoing fraud" through his Antigua-based offshore bank. Stanford International Bank, located in St John's on the Caribbean island of Antigua, has been the focal point of much controversy in recent weeks, sparked in part by an analyst note that was highly critical of the bank's apparent ability to deliver consistently and significantly market beating returns on its $8.5bn portfolio of depositors' assets. SIB had been the subject of a joint investigation by the SEC, Finra, Florida Office of Financial Regulation and the FBI. A spokesman for the bank did not return calls seeking comment. Read more » ABOUT THIS EMAIL You have received this email because you have signed up for this briefing on FT.com Manage subscriptions | Unsubscribe | Change your email address Change whether you receive this email as HTML or plain text | Forward this email to a friend Privacy policy | Advertise | Contact © Copyright The Financial Times Ltd 2009. "FT" and "Financial Times" are trademarks of the Financial Times. The Financial Times Limited, registered in England and Wales number 227590. Registered office: Number One Southwark Bridge, London SE1 9HL. VAT number GB 278 5371 21.