WHEN: TODAY, FRIDAY, JUNE 17TH
WHERE: CNBC'S "POWER LUNCH"
Following is the unofficial transcript of breaking news from CNBC's Scott Cohn. All references must be sourced to CNBC.
COHN: I'M SCOTT COHN IN THE CNBC NEWSROOM WITH BREAKING NEWS ON THE ALLEN STANFORD PONZI SCHEME, THE ATTORNEY WHO IS RECOVERING FUNDS FOR THE STANFORD INVESTORS SAYS HE'S COME UP WITH $55 MILLION THAT THAT WAS MISSING IN A U.S. BANK AND IT WAS MONEY ALLEGEDLY WITHDRAWN BY THE LIBYAN GOVERNMENT.SOME OF THAT MONEY WITHDRAWN JUST WEEKS BEFORE STANFORD WAS SUED BY THE S.E.C. AND THE ALLEGED PONZI SCHEME SHUT DOWN. ATTORNEY HAS FILED A COMPLAINT IN FEDERAL COURT IN DALLAS. A COMPLAINT THAT REMAINS STILL SEALED SO WE DON'T KNOW THE IDENTITY OF THE U.S. BANK WHERE THIS MONEY IS. BUT AGAIN MUCH OF THIS MONEY WITHDRAWN BY THE LIBYAN GOVERNMENT. ALLEN STANFORD HIMSELF HAD GONE TO LIBYA IN 2009 AND ALLEGEDLY ALERTED THE LIBYANS THAT HE MAY BE IN TROUBLE. MORE ON THIS AS WE GET IT.
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