Kazakh president’s clan is in the sights of the Swiss justice system

December 2011 - www.choicesforkazakhstan.com
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* PRESS RELEASE * PRESS RELEASE ***

3 June 2011, Zurich, Switzerland

Mr. Enzo Caputo, Attorney at Law, Founding Partner at Caputo & Partners (www.swiss-banking-law.com), Zurich, Switzerland, today announces that he is exploring making a Swiss-class-action-suit against BDO, Switzerland on behalf of Stanford Group Suisse AG (Stanford-Swiss) investors who may have suffered losses via Stanford International Bank Ltd., Antigua (Stanford-Antigua) Certificate of Deposits (CDs).

BDO has 31 offices in Switzerland and was Stanford-Swiss' Auditor.

On 27 May, 2011 Bloomberg announced that "Stanford Investors sue former auditor BDO US for $10.7 Billion over fraud by investors claiming BDO ignored signs of potential fraud. Despite the pervasive fraud that infected Stanford Financial Group's operations, BDO repeatedly issued unqualified audit opinions on its Stanford client's annual financial statements... Stanford's companies needed BDO's unqualified audit opinions to satisfy securities regulators and to continue recommending sales of the allegedly bogus certificates of deposit at Stanford International Bank Ltd. in Antigua… "

The US case asserts "BDO's Knowing Participation in the Stanford Ponzi Scheme. BDO violates its independence requirements... BDO actively conceals material information. BDO fails to properly modify Its audit opinions. BDO failed in its role as the Public Watchdog."

Mr. Caputo has 53 documents as evidence that Stanford-Swiss may have marketed, sold and allocated to the Stanford-Swiss clients Stanford-Antigua CDs over a five-year-period and this may be contrary to BDO’s testimony to PolyReg, Stanford-Swiss’ regulator. If BDO Switzerland failed to fulfil its due diligence obligation it may have enabled Stanford-Swiss’ investors losses creating a similar legal scenario to the US.

“The good news is ex-Stanford-Swiss investors may now have hope to recover some of their losses via BDO Switzerland” states Mr. Caputo.

For further details please contact Mr. Enzo Caputo, Caputo & Partners, Am Paradeplatz, Talstrasse 20, 8001 Zurich, Switzerland, Cell Phone +41 79 543 8593, or via

www.swiss-banking-law.com.