Some Stanford Group clients with frozen accounts may be unable to pay mortgages, living expenses and medical bills if a court-appointed receiver does not release some money, Secretary of State Delbert Hosemann said Tuesday.
“They live off that, literally,” Hosemann said.
The receiver has frozen the accounts as part of fraud allegations against Stanford Financial and three executives, including two Baldwyn residents.
Hosemann said several Mississippians have a certain amount sent from their investment account to checking accounts at the beginning of each month to cover bills. March begins next week, he noted.
“It is not only an inconvenience, but it could mean your electric bill doesn’t get paid or prescription drugs are not purchased,” Hosemann said.