UPDATE: Pendergest-Holt indicted on 2 counts in Stanford case

HOUSTON – A federal grand jury in Houston has indicted the chief investment officer for Texas billionaire R. Allen Stanford’s companies, alleging she obstructed the government’s investigation in a fraud case.

Laura Pendergest-Holt, a Baldwyn native, was indicted Tuesday on one count of conspiring to obstruct a Securities and Exchange Commission investigation into the Stanford Financial Group and a second count of obstructing the investigation.

Each count carries up to five years in prison and a $250,000 fine.

The SEC has accused Stanford and his top executives of conducting an $8 billion fraud by advising clients to buy certificates of deposit at the Antigua-based Stanford International Bank.

Pendergest-Holt’s attorney didn’t immediately comment.

Click here for more at the Biz Buzz blog.


The Associated Press

Click video to hear audio