Before you spend several hours lying to the S.E.C. This young woman could probably have skated from her close association with our latest recent Ponzi, Stanford Financial, but thought she could lie her way through. That’s usually a poor decision. You can see what her lawyer thought of her behavior in the second paragraph, below:
According to the F.B.I. affidavit, during the meeting “executive B,” or Mr. Davis, gave her a data drive showing that the Tier III asset group included more than $3 billion in real estate holdings and $1.6 billion that turned out to be a “loan to shareholder,” believed by those present to be Mr. Stanford. The information shocked and upset a number of executives present, all of whom had been told time and again that the firm’s investments were legitimate. A number of them are now cooperating with government investigators.
In her S.E.C. testimony, however, Mrs. Pendergest-Holt did not reveal these details, despite repeated questioning. Thomas V. Sjoblom, a lawyer with Proskauer Rose who represented the firm and who was present during Mrs. Pendergest-Holt’s testimony before the S.E.C., withdrew his counsel the day after her testimony. Two days later, Mr. Sjoblom, who had spent 20 years with the S.E.C. before entering private practice, disavowed all previous oral and written representations he had made to the S.E.C. on behalf of the firm.