Taking Action Against the SEC

" The Allen Stanford alleged fraud case the chief investment officer at Stanford financial has been arrested and charged with obstructing the Securities and Exchange Commission investigation but -- he's he's facing legal trouble. Until this morning one investors' money have been frozen in the Stamford investigation. If so to get access to his money -- or PC principal. Of brewer and return joins me now with more on his case mark good to see you. Explore how this affects you and -- investment you made in something that you wouldn't -- completely safe with an institution that has helped run by its."

" Well here in Houston we have a government takeover. Of a very different kind from what was his report about city. What happened that was so usual in this case was that the government seized all of the account holders that counts. If you had accounts at Stanford. -- it's totally unprecedented I believe it's a reckless action on the part of government. Yeah there's a precedent of course for placing a alleged securities fraud. Perpetrators into receivership. They hear the order receivership is so broad. They catches all the I think 30000 people according to the SEC's estimate. It had investments just ordinary accounts retirement accounts that sort of thing at Stanford. On Monday the yes sixteenth of February President's Day I should add."

" All right so if you stand it when you're saying is yes he he came in their and they basically had seen everything. No heads up she knew no indication this was going to happen and years saying hey wait a second. I'm going to file lawsuits near as a representative of the as many as I think 30000 people or in the same situation -- you. Against the FC CB agents the US Marshal that right."

" All we're asking for is that the Fourth Amendment the fifth amended the constitution be observed. And that the government not just make such a broad sweeping dragnet approach that takes all the investment that innocent investment. Account holders. Takes their money and locks it up along with the alleged bad guys look I don't know whether mr. Stanford and his his people are as guilty as they say they are not. But what I do know is that I just had a retirement account there the government grabbed it and even the receiver admits this press release. That is not proper for all of the accounts to be frozen they're all held by the way pershing. And I even held at Stanford. "

" What an unbelievable story will mark lord please do us a favor keep us up to date on the next steps particularly. As you pursue this year and and let us know about your progress we appreciate you bringing this to our attention we'll continue to follow thank you."