James M. Davis
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James M. Davis (born 1948) is the former chief financial officer of Stanford Financial Group. On 27 August 2009 he pleaded guilty to charges of fraud and obstruction of Justice in relation to a $7 billion investment fraud Ponzi scheme allegedly run by the company.[1] On January 22, 2013, Davis was sentenced to five years in jail for his part in the Stanford Financial fraud.[2] He admitted that he was aware of Allen Stanford's misuse of funds and he assisted in keeping the misuse of funds quiet.[2] Davis was also sentenced to three years of supervised release and had a judgment of $1 billion placed against him.[3] He finished serving his sentence at Memphis FCI and was released on July 24, 2017.[4] The former head of Antigua and Barbuda’s Financial Services Regulatory Commission (FSRC), Leroy King, also involved in the Allen Stanford Ponzi Scheme fraud, was charged by the US authorities. Extradited to the US in November 2019 and pleaded guilty to obstructing a proceeding before the SEC and to conspiracy to obstruct a Commission proceeding in United States, in February 2021 was sentenced to 10 years in prison.[5]
See also
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- Ponzi scheme
- Allen Stanford
- Leroy King
- Gilbert Lopez
- Mark Kuhrt
- Laura Pendergest-Holt
- Stanford Financial Group
References
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- ↑ Script error: No such module "citation/CS1".
- ↑ a b Former Stanford Financial CFO Gets 5 Years in Jail, Wall Street Journal, January 22, 2013.
- ↑ Press Release, U.S. Attorney's Office. Former Chief Financial Officer of Stanford Group Entities Sentenced to Federal Prison for Role in Fraud Scheme and Obstruction, FBI, January 22, 2013.
- ↑ Inmate LocatorScript error: No such module "Unsubst"., Federal Bureau of Prisons
- ↑ Script error: No such module "citation/CS1". Antigua.news
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External links
- SEC website with details of Stanford case
- Stanford Financial Group
- Stanford International Bank Ltd.
- Stanford Financial Group Receivership
- The Stanford Ponzi Scheme: Lessons for Protecting Investors from the Next Securities Fraud: Hearing before the Subcommittee on Oversight and Investigations of the Committee on Financial Services, U.S. House Of Representatives, One Hundred Twelfth Congress, First Session, May 13, 2011
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- Pages with script errors
- 1948 births
- Living people
- American white-collar criminals
- American confidence tricksters
- American chief financial officers
- Stanford Financial Group
- American people convicted of fraud
- People from Tupelo, Mississippi
- American businesspeople convicted of crimes
- Businesspeople from Mississippi
- 20th-century American businesspeople