Stanford CFO declines to cooperate in SEC Probe (Reuters)

NEW YORK (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.

NEW YORK (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) - In 2009, federal investigators finally arrested Houston financier R. Allen Stanford. For twenty years, Stanford allegedly had run a $7 billion Ponzi scheme from his offshore bank on the Caribbean island of Antigua. U.S.

Reuters - In 2009, federal investigators finally arrested Houston financier R. Allen Stanford. For twenty years, Stanford allegedly had run a $7 billion Ponzi scheme from his offshore bank on the Caribbean island of Antigua. U.S. authorities had been nosing around Stanford's empire for longer than a decade but hesitated to open a full-blown probe.

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)

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.

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