European Investors Colombia seeks details on local Stanford investors

Colombia has asked U.S.-based Stanford representatives for details of local investors' overseas holdings in the scandal-hit financial empire, the market regulator said on Thursday.
Financial authorities in the United States, Europe and Latin America have been probing businesses linked to Texan billionaire Allen Stanford after U.S. officials accused him of "massive fraud."
Colombia's Financial Superintendent Roberto Borras said a local Stanford brokerage, which halted its operations on Wednesday, had already transferred $27 million to other firms at the request of some of its roughly 4,000 clients.

"The firm's financial state (in Colombia) allows us to think the brokerage will meet its commitments," he told a news conference, saying the firm managed some $110 million in local, peso assets.
A separate Stanford Trust office in Bogota is not authorized to receive funds and acts only as a legal representation for Stanford's international operations.
"We've asked representatives of the foreign financial group for information about the number of Colombian clients and of their (overseas) operations," Borras said.
The fraud charges against Stanford prompted neighboring Venezuela to take control of a local bank owned by the billionaire, while Ecuador seized Stanford's two local units.
Peru's securities regulator suspended an affiliate from trading and Mexican officials have started investigating a banking business for possible irregularities. (Reporting by Javier Mozzo; Writing by Helen Popper; Editing by Gerald E. McCormick)


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