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Stanford’s Ex-Investment Chief Sentenced to Three Years

Sept. 13 (Bloomberg) -- Laura Pendergest Holt, the former chief investment officer for Stanford Financial Group Co., was sentenced to three years in prison for obstructing a U.S. Securities and Exchange Commission investigation of the $7 billion Ponzi scheme at the company.

Pendergest Holt was sentenced today by U.S. District Judge David Hittner in Houston. She was the third-highest-ranking executive in the financial services firm that Texas financier R. Allen Stanford built on what the U.S. said was a Ponzi scheme based on bogus offshore bank certificates.

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To contact the reporter on this story: Andrew Harris in Chicago at aharris16@bloomberg.net

To contact the editor responsible for this story: Charles Carter at ccarter12@bloomberg.net

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