NU Online News Service, July 22, 3:55 p.m.EDT
A Venezuelan investor has sued London-based insurance brokerWillis Group Holdings Ltd. and its U.S.-based subsidiary, Willis ofColorado, for providing false assurances that Certificates ofDeposit offered by Stanford International Bank of Antigua wereinsured.
The lawsuit, seeking class-action status, was filed by ReinaldoRanni of Venezuela on behalf of a group of Latin Americaninvestors, alleging that the Willis Group "played an instrumentalrole in enabling Allen Stanford [founder of SIB] to perpetuate amassive multibillion-dollar fraud against scores of investors."
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