June 19 Laura Pendergest-Holt, former chief
investment officer for Allen Stanford, has agreed to plead
guilty and receive a three-year prison sentence for her role in
a $7 billion fraud, Bloomberg reported, citing three people
familiar with the matter.
Earlier this month, former billionaire Stanford was
sentenced to 110 years in prison for running the fraud in which
he stole money from his investors to finance an extravagant
lifestyle in the Caribbean.
Pendergest-Holt will plead guilty to a single obstruction of
justice charge, Bloomberg said.
Pendergest-Holt was indicted on obstruction of justice
charges and conspiracy charges related to her allegedly false
testimony to the U.S. Securities & Exchange Commission, which
was investigating the fraud.
The U.S. Justice Department and Pendergest-Holt's lawyers
could not be reached for comment outside regular U.S. business
(Reporting by Jochelle Mendonca in Bangalore)
(Editing by David Cowell)