SEC Files Charges Against Texas Billionaire Allen Stanford, Claims Investment Fraud

The Securities and Exchange Commission has filed investment fraud charges against Texas billionaire Allen Stanford, claiming the businessman orchestrated “a fraudulent, multi-billion dollar investment scheme.”

Stanford headed up the Stanford Financial Group of Companies which the SEC claims were involved in an $8 billion investment fraud scam that was “based on false promises and fabricated historical return data.”

Assets of Stanford as well as those of Stanford International Bank, Stanford Group and Stanford Capital Management have since been frozen by a judge.

Click here for more Law News

About YourFINDit

YourFindit Community is a business, music and social networking community. YourFINDit provides members with a wealth of applications that enable them to create an in depth profile within YourFindit. Profiles include an About Me, Background and Lifestyle, Videos, Photo sharing, News, Music, Blogs, unique URL and networking with other members inside the YourFINDit community. YourFindit provides ADit to each member providing them the opportunity to have an exclusive profile (no outside advertising) displaying only banner ads they upload to their pages. Members can run their own ads or give or sell their ad space to advertisers at prices the member sets.

To create your profile sign up and within minutes you too can have your People profile running your ads and building your network with new members daily.

YourFindit is owned and operated by TransWorldNews, Inc. a news and press release distribution service.