Stanford faces investigation

(Bloomberg): Stanford Group Co. a Houston-based investment firm led by billionaire Allen Stanford the founder of the failed 20-20 cricket tournament, is under investigation by US securities regulators over sales of certificates of deposit in its affiliated offshore bank and the consistent, above-average returns those investments pay. Investigators have visited six Stanford Group offices last month, downloaded information from computer hard drives and looked through files, people familiar with the events said. Go to article.