Former Stanford Financial Group CIO Sentenced For Obstruction Of Justice

September 14, 2012

By: James W. Kraus

On September 13, 2012, Laura Pendergest-Holt, the former Chief Investment Officer of Houston-based Stanford Financial Group, was sentenced in U.S. District Court for the Southern District of Texas to 36 months in prison for her role in obstructing the SEC’s investigation of the Stanford International Bank (SIB), the Antiguan off-shore bank owned by convicted financier Robert Allen Stanford.  U.S. v. Pendergest-Holt, No. H-09-342 (S.D. Tx.)  Earlier this year, Mr. Stanford was sentenced to 110 years in prison after his conviction on charges of financial fraud relating to his orchestration of a $7 billion ponzi scheme.

The obstruction of justice charge was based on testimony that Pendergest-Holt provided to the SEC in its inquiry regarding SIB’s investment portfolio.  Pendergest-Holt acknowledged that her eventual appearance and sworn testimony before the SEC was a stall tactic designed to frustrate the SEC’s efforts to obtain important information about SIB’s investment portfolio.

News & Events

Related News

20 Pietragallo Lawyers Named in 2022 The Best Lawyers in America and Ones to Watch
August 19, 2021
Pietragallo Gordon Alfano Bosick & Raspanti, LLP is pleased to announce that 20 lawyers have been named as 2022 The Best Lawyers in America and 2022 Ones to Watch, including two lawyers who were recognized for Bet-the-Company Litigation. Read More
24 Pietragallo Lawyers Named in 2021 Pennsylvania Super Lawyers and Rising Stars
June 9, 2021
Including Recognition in Top 100 in Pennsylvania and Top 100 In Philadelphia Pietragallo Gordon Alfano Bosick & Raspanti, LLP is pleased to announce that 24 attorneys have been named as 2021 Super Lawyers and 2021 Rising Stars, including two attorneys who were also recognized in the Top 100 in Pennsylvania and Top 100 in Philadelphia. Read More
View More News & Events