Stanford CFO to appear in court

Stanford CFO James Davis is set to appear in a Houston court to answer fraud
and conspiracy charges relating to the investment business’ alleged $7bn Ponzi
scheme.

Davis will appear in court on Wednesday, after spending several months
cooperating with prosecutors, reports the
Houston
Chronicle
, although no formal plea agreement is in place.

If he testified against the founder Allen Stanford he would rank alongside
other CFOs who have done the same to their bosses, such as Enron’s Andy Fastow
and WorldCom’s Scott Sullivan.

Further reading:

Two accountants charged over
Stanford

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