Stanford vastly overstated assets -U.S. receiver
HOUSTON, April 23 (Reuters) - Records show the assets of Stanford International Bank were vastly overstated, the receiver in charge of Stanford's operations and assets said in a court filing on Thursday.
Allen Stanford, two aides and three of his companies are charged with an $8 billion fraud by the U.S. Securities and Exchange Commission.
Ralph Janvey, the court-appointed lawyer in the process of recovering assets for Stanford investors, said bank records show that Allen Stanford did not hold any of the certificates of deposit that regulators say are at the heart of the alleged fraud. (Reporting by Anna Driver and Chris Baltimore in Houston; Editing by Phil Berlowitz)
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