Saturday, 23 August 2014
Last updated 1 day ago
Feb 19 2013 | 9:01am ET
Two former top executives at R. Allen Stanford's fraudulent financial empire received long terms in prison last week for their role in the $7 billion Ponzi scheme.
Gilbert Lopez and Mark Kuhrt were each sentenced to 20 years in prison. The two, the last defendants in the Stanford case to be sentenced, were convicted of wire fraud and conspiracy in November.
The sentences for Lopez, Stanford Financial Group's former chief accounting officer, and Kuhrt, its former controller, were the longest levied in the case except against Stanford himself, who was sentenced to 110 years in prison. Former chief investment officer Laura Pendergast-Holt received three years and former CFO James Davis five years. Both cooperated with the authorities in the case.
Prosecutors accused Lopez and Kuhrt of knowing that Stanford was misappropriating his bank's assets and helping him cover it up.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note