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A former executive for convicted Ponzi schemer R. Allen Stanford will admit to blocking a probe into his $7 billion financial fraud, federal prosecutors said Tuesday.Ex-Stanford lackey Laura Pendergest-Holt is expected to plead guilty to obstruction of justice in exchange for a three-year prison sentence, according to the Department of Justice.
The news comes after Stanford himself received a 110-year sentence for fraud on Thursday, falling from grace after formerly being the 205th richest man in the country.
Pendergest-Holt, a 38-year-old who was the chief investment officer for Stanford, was charged in 2009 with misleading investors with James Davis, her ex-lover and boss, Bloomberg reported Tuesday.
Davis testified during Stanford’s trial that Stanford approved of the romance, Bloomberg reported.
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