MSNBC
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.
Encuentra aquí lo último en Semana
Clutching folders and agendas, college professors, lawyers and pensioners packed into a hall where financial sector representatives explained options for cash invested by the local brokerage unit of the Stanford Group.
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.
Do you want to read more? Click here
