The Securities and Exchange Commission (SEC) has come under suspicion due to the timing of the fraud lawsuit which some observers say was done to move attention away from criticism the SEC’s enforcement unit failed to detect a $7 billion Ponzi scheme allegedly perpetrated by money manager R. Allen Stanford. The enforcement unit also took considerable heat for not detecting the Bernard Madoff scheme before it collapsed costing investors billions in losses.
The SEC has denied any political motivation in the fraud suit and denied further comment.
If you have lost money due to an alleged ponzie scheme or other fraudulent activity by your money manager or stock broker, please contact our offices for a case evaluation. Thank you.