- The Washington Times - Tuesday, March 24, 2009

DALLAS (AP) - The chief financial officer of the troubled companies owned by Texas billionaire R. Allen Stanford has promised full cooperation with federal investigators looking into an $8 billion investment fraud.

Attorney David Finn said Tuesday that finance chief James M. Davis will work with the Department of Justice and the Securities and Exchange Commission, which accused him and Stanford of running a “massive Ponzi scheme.”

Finn says there will be “a time and a place” to address allegations of Davis’ involvement in what the government has alleged is a fraud centered around certificates of deposits sold at Antigua-based Stanford International Bank.

The attorney says Davis has not been promised any sort of leniency for his cooperation.

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