HOUSTON, (Reuters) – The chief investment officer of disgraced former billionaire Allen Stanford’s defunct financial firm pleaded guilty yesterday to lying to U.S. regulators in 2009 in an effort to delay their probe into a $7 billion Ponzi scheme.
Laura Pendergest-Holt, 38, admitted to a single count of obstruction of a Securities and Exchange Commission investigation for her role in the scheme. She originally was charged in 2009 with 21 counts of fraud, conspiracy and obstruction.
“I knew I was delaying the SEC,” she said tearfully before U.S. District Judge David Hittner in Houston of her testimony before SEC lawyers without sharing details about the firm’s fraudulent portfolio she knew they wanted.
“Did you know what you were doing at the time?” Hittner demanded loudly.
