FORENSIC ACCOUNTING BOOMING AS AMERICAN FRAUDS UNCOVERED
September 1st, 2009
BY KASHMIR HILL
TEXAS financier R Allen Stanford built an US$8.5-billion Caribbean banking empire catering to 30,000 customers in 131 countries, but this year Stanford was indicted for swindling those investors in a massive, ongoing fraud. The US government is calling it a Ponzi scheme that defrauded investors of US$7 billion, making it the second largest of the era after Bernie Madoff's.
Stanford pleaded not guilty in June, with trial originally due to start in late August. But US District Judge David Hittner recently has pushed back the trial date indefinitely ...
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