Reviewing Schwab Funds
March 16, 2009
The Alaska Division of Banking & Securities -Securities Section ("Division") is currently investigating the Stanford Financial Group along with three affiliated companies. Stanford's firms include Antigua-based Stanford International Bank and two based in Houston: broker-dealer Stanford Group Co. and investment adviser Stanford Capital Management.
The Division is requesting any Alaska investors who had financial dealings with any of these firms to contact the Division immediately as the U.S. Securities and Exchange Commission has frozen the assets of these firms in a Federal Court filing alleging massive fraud.
The Division of Securities is aware that several Alaska investors' names have shown up on lists publicized by the SEC as having invested with these firms.
The Alaska Division of Banking
& Securities -Securities Section ("Division") is
also currently investigating the Charles Schwab & Co. and
Schwab Yield Plus Select mutual fund (ticker symbol SWYSX).
If you have financial assets with these firms, you are urged to contact the Division at 550 West 7th Avenue, Suite 1940, Anchorage, Alaska, 99501, or by calling George Humm, Securities Examiner, at 907-269-8140, or through email at George.Humm@alaska.gov, as soon as possible.
Contact the Division immediately
to help in these investigations.
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