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