Stanford official promises to cooperate
Published:Thursday | March 26, 2009 | 6:18 PM
The chief financial officer of the troubled companies owned by Texas billionaire Sir Allen Stanford has promised full cooperation with federal investigators looking into an alleged $8 billion investment fraud.
Attorney David Finn says finance chief James Davis will work with the Department of Justice and the Securities and Exchange Commission, which accused him and Sir Allen of running a Ponzi scheme.
The commission claims that the fraud centred on certificates of deposits sold at the Antigua-based Stanford International Bank.
The attorney says Mr Davis has not been promised any sort of leniency for his cooperation.