News

Justice Dept. Settles Case Against Ex-Stanford Attorney

A former Securities and Exchange Commission attorney has agreed to pay $50,000 to settle charges that he violated federal conflict of interest standards by providing representation for disgraced Houston financier R. Allen Stanford.

The agreement between Dallas attorney Spencer Barasch and the Department of Justice settles allegations that Barasch improperly represented Stanford in front of the SEC after leaving his post as head of enforcement in the agency’s Fort Worth office.

The government claims Barasch, while with the SEC, directed an inquiry of Stanford be closed.

Barasch’s attorney, Paul Coggins, said his client denies wrongdoing but settled to avoid “protracted litigation.”

Stanford was charged in 2009 with running a Ponzi scheme that bilked investors out of $7 billion. His trial is scheduled to begin January 23.

Subscribe to Today in Houston

Fill out the form below to subscribe our new daily editorial newsletter from the HPM Newsroom.

* required

Share

Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments across Greater Houston. Before taking up his current post, Andrew spent five years as Houston Public Media’s business reporter, covering the oil...

More Information