posted on Feb, 17 2009 @ 06:15 PM
Well, I've read the SEC documents...
Stanford is accused, among other things, of touting higher-than-actual percentages of return on investments, instruments of which were sold as
"certificates of deposit" but didn't meet the SEC definition of "CD", and of misrepresenting where some investor funds were "going" (into
illiquid assets, such as real estate, rather than liquid assets.)
Stanford Group hasn't failed/folded....but, their assets have been frozen, including offshore assets which the judge has ordered transferred to the
US immediately..."frozen assets" is a scary term for anyone with $$ invested in SG, said $$ now totally inacessible...equally scary for the
average-joe Stanford employees who are suddenly unemployed.
Maybe it's book-cooking & subterfuge a la Madoff...
Maybe someone ticked off the wrong person...
Maybe SG's investment strategy is legit, complete with returns that other US banks/investment firms could never, WOULD never match/beat...
Time will tell...
Ezzi
**Edited multiple times due to stupidity on my part**
[edit on 17-2-2009 by ezziboo]
[edit on 17-2-2009 by ezziboo]
[edit on 17-2-2009 by ezziboo]
[edit on 17-2-2009 by ezziboo]