Cassidy pushes for support of Stanford Ponzi scheme investors

Rep. Bill Cassidy (R-La.) urged the SEC on Friday to appeal an appellate judge’s decision that victims of the Stanford Ponzi scheme are ineligible for compensation from the Securities Investor Protection Corporation (SIPC). Allen Stanford is currently serving a 110-year prison sentence for defrauding investors of more than $5 billion in the scheme, CNBC reports. More on The Ripon Advance here.