Tuesday’s award was only the second granted in arbitration to Stanford investors who have brought complaints against Pershing, the Bank of New York Mellon-owned clearing firm that worked with the firm from 2006 through its February 2009 shutdown. The investors bought certificates of deposit from a Stanford-controlled bank that proved worthless. (e.s.)
see https://advisorhub.com/pershing-ordered-to-pay-5-6-mln-to-victims-of-stanford-ponzi-scheme/
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