The Clarion-Ledger Editorial, 3/1/9
Fallout continues in the Stanford Financial probe, and it seems more will come before everything is settled.
What started as a civil complaint in which authorities alleged fraud has mushroomed into an international scandal affecting numerous countries and investors.
Company chairman R. Allen Stanford and Baldwyn resident James Davis, chief financial officer, are now being accused of implementing an $8 billion Ponzi scheme and taking billions from investors.
Another Stanford senior executive faces criminal charges related to the investigation.
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