US financial regulators probe Stanford company
Published:Friday | February 13, 2009 | 1:24 PM
US financial regulators are reportedly investigating an investment company owned by Antigua-based Texan billionaire, Allen Stanford.
The businessman sponsored a 20/20 cricket match last year, where the winning players each received US$1 million.
The Securities and Exchange Commission and two other US regulators are said to have launched a probe into the Stanford Financial Group, over high returns they received on certificates of deposit.
The certificates were issued by a Caribbean affiliate of the Stanford group.
A spokesman for the company has confirmed the visits by regulators but said the investigations are part of routine examinations.