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SEC Seeks $40M In Stanford Case

DALLAS (CN) - The SEC sued the Stanford Group again, in a federal complaint that seeks more than $40 million from 66 "financial advisers" the Commission names as relief defendants. Stanford's receiver says the advisers were "paid huge commissions, front-end loans, and other compensation for soliciting their clients to purchase fraudulent certificates of deposit from SGC's affiliate, defendant Stanford International Bank."

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