Since the mid-1990s, the Stanford Group has set up deep ties in Baton Rouge, becoming a regular donor for charitable events and handling money for local investors. But now that the firm is at the center of an alleged $8 billion fraud, people are wondering what’s next, the Wall Street Journal reports. “It never entered my mind that Stanford might be crooked. I got the account statements every month, and you could see the interest — 8% or 10% — show up,” said Dr. Stephen Wilson, who had about $600,000 invested with Stanford. “I should have opened my eyes and thought, how can a bank make this kind of money when no one else can?” Read the full story here. (Registration required)
WSJ looks at how Stanford fallout is affecting B.R.
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