The ex-chief financial officer for Texas tycoon Allen Stanford’s businesses says the financier squirreled away millions of dollars from investors to a secret Swiss bank account that he used to pay for personal expenses, bribes to regulators and employee bonuses, according to the Associated Press.
AP said that James M. Davis who worked for Stanford for 21 years testified today for a second day in the financier’s fraud trial in Houston federal court.
Davis has pleaded guilty in the case as part of an agreement with prosecutors.
