Personal Finance Advice and Commentary

Wednesday, December 14, 2011 12:30 pm
By Sheyna Steiner ·

CD scams are a dime-a-dozen, there is no shortage of scammers out there trying to take advantage of people. But wildly successful scams such as the one run by R. Allen Stanford are unusual — he got away with it for years and operated right under the nose of regulators. Stanford sold fake CD’s in

Wednesday, June 15, 2011 3:36 pm
By Sheyna Steiner ·

In 2009, Allen Stanford was arrested for running an $8 billion investment scam. He sold extremely high-yielding, yet fake, CDs to unwitting investors. Naturally, many of those optimistic CD buyers ended up losing their shirts when the operation was busted. On Wednesday, the Securities and Exchange Commission, or SEC, announced that some of those investors

Thursday, July 01, 2010 12:42 pm
By Sheyna Steiner ·

Let’s be honest, it’s easy to believe we can’t be scammed. But what if the fraudulent instrument is something as benign and unassuming as a CD? In February 2009, the SEC raided the offices of Allen Stanford and charged him with running an $8 billion investment fraud, according to an Associated Press story written at