Ex-Stanford exec gets 3 years for $7B swindle

Published September 13, 2012 5:06pm ET



HOUSTON (AP) — A top executive in the now-defunct empire of disgraced Texas financier R. Allen Stanford was sentenced to three years in prison Thursday for her role in helping the once jet-setting businessman bilk investors out of more than $7 billion in one of the biggest Ponzi schemes in U.S. history.

Former Stanford chief investment officer Laura Pendergest-Holt’s sentence was part of a plea agreement reached with federal prosecutors. She had pleaded guilty in June to one count of obstruction of a U.S. Securities and Exchange Commission proceeding in exchange for the sentence.

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