SEC charges Stanford companies with fraud

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission charged Robert Stanford, 3 of his companies for alleged fraud.

* Says alleged fraud involved multi-billion dollar investment scheme centering on an $8 billion CD program.

* Says companies accused of fraud include Antigua-based Stanford International Bank; Houston-based Stanford Group Co; investment adviser Stanford Capital Management.

* Says also charged are Stanford International Bank CFO James Davis, Stanford Financial Group chief investment officer Laura Pendergest-Holt.

* Says U.S. district judge in Dallas grants SEC request to freeze defendants'' assets, appoints receiver.

* Says accuses Stanford of misrepresenting to CD purchasers that their deposits were safe and falsely claiming client funds were reinvested primarily in liquid financial instruments.

* Says its investigation of alleged Stanford fraud is continuing.

* Posts SEC statement on web here