So, they knew about this guy for 15 years, and it appears they did nothing. The SEC is going to need a very good excuse:
American authorities have been suspicious of Allen Stanford's financial dealings for 15 years but only accelerated their investigation after the Bernard Madoff fraud was exposed, it was claimed today.
As investigators continued to hunt Mr Stanford and the $50 billion (£35 billion) of assets connected to him, a financial expert said that the Texan had been on "everybody’s radar" for more than a decade.
OK, lets hear it; where do you think this guy is hiding? I reckon he is on a boat sailing the seven seas, rather like Captain Jack Sparrow.