Cassidy Leads Effort to Send Letter to SIPC Chairman Regarding Stanford Ponzi Scheme

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WASHINGTON, D.C. – Today, Congressman Bill Cassidy, M.D., along with 26 Members of Congress, signed a bi-partisan letter to Chairman Orlan M. Johnson of the Securities Investor Protection Corporation.


The letter urges Chairman Johnson to act more quickly to compensate the victims of the Stanford Ponzi scheme. It has been more than five months since the SEC determined that certain victims of the Stanford Ponzi scheme were entitled to SIPC protection for their losses, and the victims in the sixth Congressional District and around the country are still waiting for answers.


“SIPC has an obligation to live up to its responsibilities, and I am hopeful that they will provide the Stanford Victims with the news they have been waiting for since this tragedy began.  This letter is just one part in a three year effort by the members of Congress who represent the victims to continue to push for a final resolution,” said Congressman Cassidy.