US SEC had suspected Stanford Ponzi scheme since 1997

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US regulators had been aware Allen Stanford was probably running a Ponzi scheme since 1997, according to a report by the SEC.

Published by the SEC's Office of the Inspector General (IOG), the report is damning of the regulator's enforcement culture, which it says resulted in enforcers at its Fort Worth branch being "reluctant" to investigate Stanford.

"We found that senior Fort Worth officials perceived they were being judged on the numbers of cases they brought, so-called 'stats', and communica

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