Laura Pendergest-Holt: Former Stanford Financial Head Gets Three Years In Prison

Laura Pendergest-Holt, 39, the former chief investment officer for the Ponzi-scheming Stanford Financial Group, got her prison sentence today: up to three years in a federal pen.

She got her sentence, prosecutors say, for "obstructing a U.S. Securities and Exchange Commission (SEC) investigation into Stanford International Bank (SIB), the Antiguan offshore bank owned by convicted financier Robert Allen Stanford."

She will also undergo supervised release when she gets out. She had entered a guilty plea earlier in the process.

"In her guilty plea, Holt acknowledged that her eventual appearance and sworn testimony before the SEC was a stall tactic designed to frustrate the SEC's efforts to obtain important information about SIB's investment portfolio," prosecutors said today. "Holt admitted she took this action intentionally and corruptly, knowing that her testimony would impede the SEC's investigation and help SIB continue operating."

Among the agencies handling the case were the Justice Department's Criminal Division; the FBI, the Department of Labor for the Employee Benefits Security Administration, U.S. Postal Inspection Service (USPIS); and the Internal Revenue Service-Criminal Investigation (IRS-CI).

Stanford, 62, has received what is in essence a life sentence of more than 100 years for his role in creating and running the high-flying cricket-playing Caribbean-based fraud enterprise.

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