The U.S. Department of Justice told the Securities and Exchange Commission to back off its investigation of billionaire financier Robert Allen Stanford, Fox Business News reports. U.S. Rep. Dennis Kucinich, D-Ohio, who has been investigating the investigation into Stanford’s alleged Ponzi scheme, told the news network that the SEC halted its investigation several years ago after getting a stand-down order from someone in a DOJ agency. Stanford investors are upset over allegations that the SEC backed off its investigation, charging that they would have lost less money if the authorities had gotten involved earlier. Read the full report here.
Report: DOJ halted investigation into Stanford
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