Another shocker: Nigel Hamilton-Smith, the Antiguan liquidator of the Stanford Group’s offshore bank testified that Stanford used client funds to fuel his conspicuous consumption.
The Texas financier has been accused by U.S. regulators of a $8.5 billion fraud.
For more on the ongoing case, click here and/or see my earlier post.
Tags: madoff, ponzi scheme, protect investments, recession, securities fraud, stock fraud, stock loss