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25 Mar 2009
Stanford Financial Group CFO James M Davis the company at the centre of an $8bn (£5.6bn) investment fraud is said to be cooperating with federal investigators.
Davis had reportedly cited his Fifth-Amendment rights against self-incrimination in a February filing with the Securities and Exchange Commission.
CFO Davis, who was a college roommate of the cricket-loving billionaire Allen Stanford at Baylor University, plans to work with the Department of Justice and the SEC, his attorney David Finn told the Associated Press.
Reveivers from Vantis are currently on the hunt to recover funds for 28,000 clients of Stanford International Bank and Stanford Trust Company, the two institutions where the fraud allegedly took place.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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