Ex-Stanford CFO apologizes after pleading guilty
Court Alerts
The chief financial officer of Stanford Financial Group pleaded guilty in connection with a $7 billion international Ponzi scheme Thursday in federal court here.
James Davis, 60 years old, is cooperating with federal prosecutors, who are mounting a case against the chief executive of Stanford, R. Allen Stanford. Mr. Stanford was hospitalized Thursday morning because of a rapid heart beat.
Mr. Davis is facing up to 30 years in prison on charges of conspiracy to commit mail, wire and securities fraud as well as mail fraud and conspiracy to obstruct a Securities and Exchange Commission investigation. The government is seeking $1 billion from Mr. Davis.
"I did wrong. I'm sorry," Davis, the former Stanford chief financial officer said outside a Houston courthouse, after pleading guilty to fraud and conspiracy charges. "I apologize. I take responsibility for my actions."
Mr. Davis doesn't have the money, his attorney David Finn said.
Mr. Davis's assets have been frozen. He is living in Michigan and working a $10-an-hour manual labor job on a family farm in order to pay for his legal fees, Mr. Finn said.
Related listings
-
NJ court appearance for comic Artie Lange delayed
Court Alerts 08/26/2009A New Jersey court appearance for "Howard Stern Show" radio personality Artie Lange (LANG) on a charge of driving under the influence of an intoxicant has been rescheduled for next month. The comedian and author of the best-selling book "Too Fat to F...
-
Calif. man gets 2 more years for posing as lawyer
Court Alerts 08/19/2009A Southern California man sent to prison for seven years for falsely claiming to be an attorney has been sentenced to two more years for posing as a lawyer again days after he was released. Prosecutors say 64-year-old Harold Goldstein got the maximum...
-
Judge plans to testify at death-row appeal trial
Court Alerts 08/18/2009A Texas judge who closed her court before a death row inmate could file an appeal plans to testify at the ethics trial where she faces charges that could end her career. Judge Sharon Keller is the presiding judge of the Texas Court of Criminal Appeal...
New Rochelle, New York Personal Injury Lawyers
If you or a loved one has been injured in an accident, contact Kommer, Bave & Ollman, LLP, in New Rochelle, New York, immediately. We can answer all your questions and work with you to determine if you have the grounds for a personal injury lawsuit. The attorneys at our firm are determined to resolve even the most difficult of cases. We will work closely with you to determine the best course of action to get your claim or case resolved in the most efficient way possible. We will fight for your right to compensation! No one should have to suffer a financial burden from the result of another person’s carelessness. The attorneys at Kommer, Bave & Ollman, LLP will aggressively fight to ensure that justice is served on your behalf.