James M. Davis
James M. Davis (born 1948) is the former chief financial officer of Stanford Financial Group. On 27 August 2009 he pled guilty to charges of fraud and obstruction of Justice in relation to a $7 billion investment fraud Ponzi scheme allegedly run by the company.[1] On January 22, 2013, Davis was sentenced to five years in jail for his part in the Stanford Financial fraud.[2] He admitted that he was aware of Allen Stanford's misuse of funds and he assisted in keeping the misuse of funds quiet.[2] Davis was also sentenced to three years of supervised release and had a judgement of $1 billion placed against him.[3]
See also
References
- ↑ Krauss, Clifford (2009-08-28). "‘Blood Oath’ Sealed Stanford Deal, Court Is Told". The New York Times.
- 1 2 Former Stanford Financial CFO Gets 5 Years in Jail, Wall Street Journal, January 22, 2013.
- ↑ Press Release, U.S. Attorney's Office. Former Chief Financial Officer of Stanford Group Entities Sentenced to Federal Prison for Role in Fraud Scheme and Obstruction, FBI, January 22, 2013.
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External links
- SEC website with details of Stanford case
- Stanford Financial Group
- Stanford International Bank Ltd.
- Stanford Financial Group Receivership
- The Stanford Ponzi Scheme: Lessons for Protecting Investors from the Next Securities Fraud: Hearing before the Subcommittee on Oversight and Investigations of the Committee on Financial Services, U.S. House Of Representatives, One Hundred Twelfth Congress, First Session, May 13, 2011
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