(Reuters) – Laura Pendergest-Holt, former chief investment officer for Allen Stanford, has agreed to plead guilty and will receive a three-year prison sentence for her role in a $7 billion fraud, a source familiar with the case said today.
Earlier this month, former billionaire Stanford was sentenced to 110 years in prison for running a Ponzi scheme in which he stole money from investors around the world to finance an extravagant lifestyle in the Caribbean.
Pendergest-Holt will plead guilty to a single obstruction of justice charge on Thursday before U.S. District Judge David Hittner, the source said.
Pendergest-Holt was indicted on obstruction of justice and conspiracy charges related to her allegedly false testimony to the U.S. Securities & Exchange Commission, which was investigating the fraud.
A spokeswoman for the U.S. Department of Justice declined to comment. Pendergest-Holt’s lawyer, Dan Cogdell, was not immediately available for a comment.
