PONZI SIGN

It’s been more than ten years since the Stanford Group was shut down, having bilked over 1000 Louisiana investors out of their life’s savings.  Lawsuits have been filed against the Securities and Exchange Commission for not providing proper regulatory oversight.  But a strong case can be made that there is major culpability on the part of a state agency, the Office of Financial Institutions.  And we are talking about Louisiana taxpayers being potentially hit with a bill that could approach $800 million.

Published in State of Louisiana

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