Here in the United States, federal agents have served civil papers to the Texas billionaire Robert Allen Stanford in the case accusing him of an $8 billion fraud. The Securities and Exchange Commission says Robert Allen Stanford used his Antigua-based bank to defraud investors by selling them phony certificates of deposit. Stanford wasn’t taken into custody, because he hasn’t been charged criminally. Like the Bernie Madoff fraud scandal, Stanford’s case has again raised questions about the SEC’s ability to regulate the securities industry. Critics say the SEC missed a series of warnings about Stanford, as they did with Madoff.