Stanford CFO declines to cooperate in SEC Probe

Reuters - Stanford Financial Group's Chief Financial Officer James Davis, accused with the company's founder Allen Stanford of carrying out a $8 billion Ponzi scheme, has refused to cooperate in the investigation.

Reuters - Stanford Financial Group's Chief Financial Officer James Davis, accused with the company's founder Allen Stanford of carrying out a $8 billion Ponzi scheme, has refused to cooperate in the investigation.

HOUSTON (Reuters) - James Davis, the government's top witness in convicted swindler Allen Stanford's fraud trial, was sentenced to 5 years in prison for his role in a $7 billion Ponzi scheme. Davis, who could have been sentenced to 30 years, told the court: "I am ashamed and I am embarrassed." U.S. District Judge David Hittner, who presided over Stanford's trial, handed down the punishment on Tuesday. (Reporting By Anna Driver and Eileen O'Grady; Editing by Gerald E. McCormick)

WASHINGTON (Reuters) - A senat

NEW YORK (Reuters) - The chief financial officer of Stanford Financial Group, James Davis, is cooperating in fraud investigations of the group, the Wall Street Journal reported on Monday, citing Davis' lawyer.

HOUSTON (Reuters) - James Davis, the government's top witness in convicted swindler Allen Stanford's fraud trial, was sentenced to 5 years in prison for his role in a $7 billion Ponzi scheme.

(Reuters) - The Supreme Court on Friday accepted appeals by law firms that once represented convicted swindler Allen Stanford and were trying to avoid lawsuits by victims seeking to recoup losses from his $7 billion Ponzi scheme.

Reuters - U.S. securities regulators on Friday accused Texas billionaire Allen Stanford, his college roommate and three of their companies of carrying out a "massive Ponzi scheme" over at least a decade and misappropriating at least $1.6 billion of investors' money.