A leading insurance company in Guyana says it has lost nearly $1.5 million in pension funds after investing with Texas financier R. Allen Stanford.
Spokesman Hewley Nelson says the “Hand in Hand” company began investing money with Stanford Financial Group three years ago.
The government of the South American country plans to meet with other business owners next week to determine whether they, too, are reporting losses.
Former presidential adviser Raymond Gaskin said Saturday that Stanford representatives visited Guyana three years ago to encourage business leaders to invest in long-term securities.
U.S. regulators are investigating Stanford Financial Group for an alleged fraud scheme involving billions of dollars.
Topics Carriers Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Judge Says Smucker’s Lawsuit Against Trader Joe’s Over Frozen PB&J Can Proceed 
Nuclear Verdicts Go Boom, Increase 40.7% in 2025 
AIG Executive Chair and Former CEO Zaffino Set to Exit for Palantir 
Florida Bans Flock Cameras, License Plate Readers From State Roads 
