IKN

Allen in happier times

Here’s Felix Salmon keeping the wider world up to date with the latest down here. Excellent to see a big traffic blog caring about this story. Be sure to check out the comment underneath Salmon’s post written by “anonymous” (one of the reasons I don’t like that name appearing here).

Here’s Bloomberg on Stanford today. Well worth a full read, but here’s how it starts:

Feb. 12 (Bloomberg) — Stanford Group Co., a Houston-based investment firm led by billionaire R. Allen Stanford, is under investigation by U.S. securities regulators over sales of certificates of deposit in its affiliated offshore bank and the consistent, above-average returns those investments pay.

Investigators from the Financial Industry Regulatory Authority visited six Stanford Group offices last month, downloaded information from computer hard drives and looked through files, people familiar with the events said. Two former Stanford financial advisers were questioned last month by the Securities and Exchange Commission, according to the people, who declined to be identified because they yada yada continues here

UPDATE: BusinessWeek in on the act here, and the London FT via Alphaville here

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