U.S. securities regulators on Friday accused Texas billionaire Allen Stanford, his college roommate and three of their companies of carrying out a "massive Ponzi scheme" over at least a decade and misappropriating at least $1.6 billion of investors' money.
Meanwhile, a Houston judge ruled on Friday that Laura Pendergest-Holt, the only person arrested in the $8 billion Allen Stanford fraud investigation, could walk free after she posted a $300,000 bond.
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