WASHINGTON (AP) - A federal judge issued an order Thursday lifting a freeze on about 12,000 investor accounts with Texas billionaire R. Allen Stanford that were valued at $250,000 or less as of Feb. 28, at the request of the court-appointed receiver in the Stanford case.
The Securities and Exchange Commission, which has accused Stanford of conducting an $8 billion investment fraud, announced the order by U.S. District Judge David C. Godbey in Dallas. Godbey's order "unfreezing" the roughly 12,000 accounts held at the clearing firm Pershing LLC takes effect on Monday.
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