Two accountants charged over Stanford

It alleges Mark Kuhrt and Gilberto Lopez, accountants for Stanford-affiliated companies, fabricated financial statements to the impression investments were ‘solid, safe and secure’.

Stanford International is alleged to have conducted a Ponzi scheme which repaid investors using funds from other clients and not from returns generated by certificates of deposit.

Lopez worked in Stanford Financial Group’s Houston office as the chief accounting officer.

He provided accounting services to many entities under Stanford’s control.

The regulator also alleges that the head of Antigua’s Financial Services Regulatory Commission helped Stanford run his scheme for at least a decade, by conducting fake audits of Sir Allen’s company records.

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