MSNBC | 2/27/2009 12:00:00 AM
Colombian Stanford clients transfer to new funds
Feb 27 -- Hundreds of Colombian clients of a Stanford Group unit voted on Wednesday to transfer their investments to other brokerages just a week after U.S. authorities charged the founder of the vast financial network with an $8 billion fraud.
The unit is Stanford S.A. Comisionista de Bolsa.
Colombian clients transferred around $30 million from Stanford in the initial days after U.S. authorities charged Texas billionaire Allen Stanford with carrying out a "massive fraud" that rattled investors from Latin America to Europe.
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