text1: Stanford, the chief executive officer of Stanford Financial Group and the Stanford Investment Bank at the heart of the SEC fraud charges, followed the lead of his Memphis-based chief financial officer, James Davis, who asserted his Fifth Amendment rights in court filings nearly two weeks ago. Stanford's signature is dated Monday. Memphis-based chief investment officer Laura Pendergest-Holt is accused of helping facilitate the scheme by misleading investors. The only criminal charges filed so far are against Pendergest-Holt — for obstruction of justice — related to the government's belief that she lied about her knowledge of assets involved with the uninsured Caribbean-based certificates of deposit that are at the center of the investigation.
text2: The Fifth Amendment right is against self-incrimination.