June 1, 2011
Investor Alert for Stanford Investors
Some investors in the Stanford International Bank CD program are being contacted by individuals who are offering their "services" to help return investors' lost funds.
Unfortunately, unscrupulous individuals often approach victims with false promises of faster or larger returns of their lost money. Investors can be tricked into paying for these "services" thinking they are merely paying a little to get back a lot more. Instead, they are often victimized a second time.
In SEC enforcement cases involving an asset freeze of a firm or individual, the court often appoints a receiver to act in the interests of all investors by identifying, locating and liquidating assets. Once a defendant is found liable in court or agrees to a settlement of the charges, the court must approve a distribution plan through which recovered funds are distributed to harmed investors.
While solicitors may promise quicker service or larger returns of lost money, they are not involved in that court-approved distribution process and cannot increase the amount that will ultimately be paid to an individual investor.
In the SEC v. Stanford case, the court-appointed receiver is working to pay legitimate claims and make distributions to investors as soon as possible. More information about the receiver is available at: www.stanfordfinancialreceivership.com. Investors who have specific questions or more information about any solicitations being made to them regarding the recovery of lost Stanford investments should contact the SEC's Investor Information hotline at 800-732-0330.