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    Stanford CFO to co-operate with the Feds

    Stanford CFO to co-operate with the Feds

    James M Davis decides to co-operate with the Department of Justice and the SEC after reportedly exercising his Fifth Amendment rights to avoid incriminating himself

    Author Date published March 25, 2009 Categories

    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.

    Further reading:

    Stanford
    stays tight-lipped in fraud case

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