US Grand Jury indicts Stanford investment officer

A United States federal grand jury has indicted the chief investment officer at the Stanford Financial Group, owned by Sir Allen Stanford.



Laura Pendergest-Holt, 35, is accused of obstructing the investigation into the US$8 billion fraud case against Stanford and other associates.



The jury indicted Pendergest Holt on one count of conspiring to obstruct the Securities and Exchange Commission (SEC), the financial watchdog that is conducting the investigation into Sir Allen’s companies.



She was also indicted on a second count of obstructing the investigation.



Authorities say each count carries up to five years in prison and a US$250,000 fine.



The SEC charged that Sir Allen and his top officials engaged in the fraud scheme by urging clients to buy certificates of deposit at the Antigua-based Stanford International Bank.



Pendergest Holt has been on a $300,000 bond since being charged with obstruction in a criminal complaint issued by the Northern District of Texas on February 26.