{"id":7080,"date":"2019-05-16T10:27:20","date_gmt":"2019-05-16T15:27:20","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=7080"},"modified":"2019-05-16T10:27:20","modified_gmt":"2019-05-16T15:27:20","slug":"stanford-ponzi-fraud-victims","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/stanford-ponzi-fraud-victims\/","title":{"rendered":"Stanford Ponzi Fraud Victims Awarded $1.4M"},"content":{"rendered":"

\t\t\t\tA Financial Industry Regulatory Authority (FINRA)<\/a> panel has ordered Pershing, LLC to pay $1.4m to six investors who lost money in R. Allen Stanford\u2019s $7.2B Ponzi scam. Pershing is a Bank of New York Mellon Corp. (BK) division. It acted as Stanford Group Co.\u2019s clearing broker for several years.<\/p>\n

Pershing is accused of enabling the Stanford Ponzi Fraud<\/a>, including through its transfer of hundreds of millions of dollars from US investors\u2019 securities accounts, as it continued to make money from the sales of at least $500M in fake, unregistered certificates of deposit (CDs).<\/p>\n

Pershing also allegedly disregarded the unusual ways in which Stanford ran his operations, including the use of offshore transfers and the high compensation awarded to brokers. The unregistered CDs were issued out of Stanford International Bank, a Stanford Financial Group unit based in Antigua, and then sold by Stanford\u2019s brokerage firm in the US.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A Financial Industry Regulatory Authority (FINRA) panel has ordered Pershing, LLC to pay $1.4m to six investors who lost money in R. Allen Stanford\u2019s $7.2B Ponzi scam. Pershing is a Bank of New York Mellon Corp. (BK) division. It acted as Stanford Group Co.\u2019s clearing broker for several years. Pershing is accused of enabling the […]<\/p>\n","protected":false},"author":2,"featured_media":7120,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3953,3773,3783,3774,3739,3792],"tags":[2872,2535],"class_list":["post-7080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arbitration-rulings","category-broker-fraud","category-broker-misconduct","category-broker-dealers","category-finra","category-ponzi-scams","tag-ponzi-scam","tag-stanford-ponzi-scam"],"yoast_head":"\nStanford Ponzi Fraud Victims Awarded $1.4M — Investor Lawyers Blog — May 16, 2019<\/title>\n<meta name=\"description\" content=\"A FINRA panel has ordered Pershing LLC to pay $1.4m to six investors who lost money in the Standford Ponzi fraud scam.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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