Congresswoman Ileana Ros-Lehtinen, senior member of the Florida Congressional Delegation, wrote to Ms. Mary L. Schapiro, Chairwoman of the Securities & Exchange Commission (SEC), requesting that her agency intervene to assist the over one hundred employees of the Stanford Financial Group's Miami office recoup their owed salaries after the SEC appointed receiver terminated their pay.
Employees of the company were guaranteed their final paychecks for days already worked and the remainder of the current pay period, but this never materialized and the employees were thus informed that they would not be receiving their paychecks.
These employees must be paid immediately and should not have to suffer further economic hardship due to the unethical conduct of high level executives at the company. The former employees have had their health insurance cancelled and in these times of economic distress the employees are faced with a bleak future.
Said Ros-Lehtinen, "This is a terrible situation for scores of South Florida families who have not only lost their jobs and livelihood but are now also faced with owed pay for time they worked. This matter must be corrected and the former employees must be paid what rightfully belongs to them. I will continue to help them until a positive outcome is achieved."