Judge Refuses To Dismiss SEC's Claims Against Alleged Ponzi Scheme Mastermind

DALLAS - A federal judge in Texas on Nov. 30 ruled that he has subject matter jurisdiction over the Securities and Exchange Commission's federal securities law claims against alleged Ponzi scheme mastermind R. Allan Stanford, that the SEC has not failed to state a claim for relief and that the U.S. District Court for the Northern District of Texas is the proper venue to hear the SEC's action (Securities and Exchange Commission v. Stanford International Bank Ltd., et al., No. 09-0298, N.D. Texas; See July 2011, Page 16). Full story on lexis.com