Stanford Officer to Plead Guilty
Stanford Financial Group's top investment executive, Laura Pendergest-Holt, is expected to plead guilty to obstruction of justice on Thursday for her alleged role in a $7 billion Ponzi scheme that was among the largest frauds in U.S. history, the Wall Street Journal reported today. The expected plea by Pendergest-Holt, Stanford's chief investment officer, follows the sentencing last week of convicted Ponzi schemer R. Allen Stanford to 110 years in prison. A Federal Bureau of Investigation affidavit filed in U.S. District Court in Dallas had alleged that Pendergest-Holt misled Securities and Exchange Commission investigators who took her testimony in the probe of alleged fraud at Stanford International Bank, Stanford's Antigua-based offshore bank. Pendergest-Holt was scheduled to go on trial in September.