In new developments in the Stanford Group case, an attorney for Jay Comeaux and Alvaro Trullenque, executive directors of the Stanford Financial Group’s Houston operations, says the men were under the impression the business was sound and that there were no problems with CDs at an Antiguan bank — now the source of federal fraud complaint. Comeaux and Trullenque are both from Baton Rouge and helped launch Stanford Group when they left Baton Rouge’s Merrill Lynch operations to partner with R. Allen Stanford. Read the Houston Chronicle story about Comeaux and Trullenque here.
Investors, meanwhile, are getting testier by the day as the federal investigation of Stanford settles in for the long haul. At least one investor is trying to pry loose frozen accounts by suing regulators in a Houston court. Read that Chronicle story here.