SEC asks court to decide on compensation to Stanford victims
by MBJ Staff
Published: December 15,2011
Tags: courts, federal government, fraud, investing, investment, investor fraud, investors, ponzi scheme, scam, scheme
WASHINGTON — The Securities and Exchange Commission (SEC) has asked a federal court to determine whether the Securities Investor Protection Corp. should provide compensation to victims of a Ponzi scheme perpetrated by the Stanford Group.
Sen. Thad Cochran (R-Miss.) has supported efforts to have the SEC and SIPC address the losses incurred by investors, including some from Mississippi.
“I would rather have had an agreement between these agencies to help defrauded investors. That has not happened and the matter has been referred to the courts. I have not given up hope that victims of the Stanford scheme might eventually recoup some of what they lost,” said Cochran.
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