Stanford layoffs extend to South Florida

Posted by Rachel Leigh email

MIAMI (WFLX) - The massive layoffs involving part-time Palm Beacher Allen Stanford now extend to South Florida.

A total of 170 jobs have been cut in the Sunshine State: 95 in Miami, 46 in Boca Raton, and the rest in Orlando, Ft. Lauderdale and Vero Beach.

They're among about 1,000 people nationwide who lost their jobs at the investment firm.

Stanford and his finance chief are accused of conducting a "massive investment scheme" through companies they controlled. They deny the allegations.