At issue is a Swiss bank account held by one of Mr. [R. Allen] Stanford’s companies at SG Private Banking (Suisse) SA, a Société Générale subsidiary, that was allegedly funded with investors’ money and used to make payments into Mr. Stanford’s personal accounts and for bribes to his Antiguan auditor. Prosecutors in the criminal probe are examining whether Société Générale failed to follow due diligence procedures or to ask questions about irregular banking activity, the people familiar with the matter said.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn