Assets Are There,' Stanford Insisted at Pivotal Meeting - Houston Chronicle

Assets are there, Stanford insisted at pivotal meeting - Houston Chronicle
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Assets are there, Stanford insisted at pivotal meeting

Assets are there, Stanford insisted at pivotal meeting
TOM FOWLER, Copyright 2009 Houston Chronicle | February 27, 2009

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Texas financier R. Allen Stanford

pounded on a table
and insisted the assets are there at a
meeting this
month when colleagues questioned a company portfolio
called Tier Three, including a $1.6 billion loan to
Stanford, court documents indicate.

The Feb. 5 meeting is described in a criminal complaint
against Stanford Financial Group Chief Investment
Officer Laura Pendergest-Holt
and in a separate civil
complaint in which the Securities and Exchange
Commission alleges that Allen Stanford, PendergestHolt, Chief Financial

Officer James Davis and
companies they led defrauded investors.
The
criminal complaint identifies only Pendergest-Holt,
referring to others
mentioned in such terms as
Confidential Witness 1 or Executive B. But comparison with events described in the civil complaint, which
contains names, identifies most of the participants.
Transcripts
of Pendergest-Holts interviews with SEC investigators show that Stanford and Davis were present
at meetings key to the governments allegations.
The
criminal complaint accuses her of lying to the SEC about what she knew of Tier Three the single largest
group of assets at
Stanford International Bank in Antigua, which issued certificates of deposit central to the
alleged fraud.
The
documents indicate she prepared for her interviews in discussions with colleagues during late January and
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early February, including one meeting

at a Miami airport hangar owned by the company.
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Among
participants were Davis, referred to as SFG Executive B; three other employees referred to as
Confidential Witnesses; and Allen Stanford, referred to as SFG Executive A, who took part by phone.
In
later meetings all of the individuals named in the complaint except Stanford met several times in Miami to
discuss issues like the structure
of the Antigua bank, the status of Tier Three funds and what kind of assets
were held in it, according to the complaint.
They included outside counsel Thomas Sjoblom
of Washington, D.C., referred to as Attorney A, who has since
withdrawn from representing Stanford, and Stanford International Bank President Juan Rodriguez, referred to
as SIB Affiliate President.
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Assets Are There,' Stanford Insisted at Pivotal Meeting - Houston Chronicle

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Subscribe to the Houston Chronicle | Shopping | Classifieds | Obits | Place an Ad | La Voz

56F Clear | Houston Weather

Tuesday February 10, 2015