March 26. 2009

R. Allen Stanford throwing around money that's not even his, acquired through a ponzi scheme at his investors' expense. Stanford is pictured above with $20,000,000 in prize money at cricket tourney - stolen money that was not his to spend in this manner.

James M. Davis, the CFO of disgraced Stanford Financial Group, run by fraudster R. Allen Stanford, has changed from pleading the Fifth (silence) to talking to the FBI and SEC. Davis is going to sing to the Feds like Aretha at the Apollo.

Stanford Financial CFO Will Aid the Feds

James Davis reportedly reverses his decision to plead the Fifth, and says he'll cooperate in an investigation targeting an alleged $8b investment scam.

Stanford Financial Group CFO James M. Davis — the number-two executive at the financial firm at the center of allegations that it is an $8-billion investment fraud — is reportedly cooperating with federal investigators.

Previously, Davis had cited his Fifth-Amendment rights against self-incrimination in a February filing with the Securities and Exchange Commission, according to press reports at the time....

http://www.cfo.com