WASHINGTON Reuters – A federal grand jury in Texas has indicted Allen Stanford and four others accused

WASHINGTON (Reuters) – A federal grand jury in Texas has indicted Allen Stanford and four others accused of running a massive fraud scheme that bilked investors of some $7 billion over more than a decade U.S.The U.S. WASHINGTON, June 19 (Reuters) – A federal grand jury in Texashas indicted Allen Stanford and four others accused of running amassive fraud scheme that bilked investors of some $7 billion overmore than a decade Bonds  |  Funds News  |  ETFs News The U.S. Justice Department unveiled the indictment papers onFriday and detailed charges in the case, which revolves aroundStanford’s bank dealings in Antigua: – Stanford, four others accused, face 21 charges of fraud andobstruction. – Five charged are Stanford and former Stanford corporateofficials Laura Pendergest-Holt, Gilberto Lopez, Mark Kuhrt andLeroy King, an Antiguan regulator. – Indictment says the accused defrauded investors who boughtabout $7 billion in certificates of deposit from Stanford’soffshore bank.

– Stanford, others, also accused of diverting $1.6 billionin undisclosed personal loans to Stanford. – Stanford and other accused charged with falsely claimingStanford’s bank assets grew from $1.2 billion in 2001 to $8.5billion in December 2008. – Indictment alleges that about $5 billion on Stanfordbank’s reported assets consisted of notes on loan to Stanfordand grossly overstated interest in island properties. – More than $2 billion was allegedly added to the bank’sbooks in 2008 from artificial real estate deals – Indictment charges Allen Stanford with making more than$100,000 in “corrupt payments” to Antigua bank regulator LeroyKing to ensure bank records were not audited.

– Indictment seeks forfeiture of fraud proceeds from alldefendants. Bonds Funds News ETFs News. * Says needs further cost cuts to avert 2009 operating loss * Difficult market environment jeopardises profit target (Adds background and detail) FRANKFURT, June 19 (Reuters) – Deutsche Lufthansa (LHAG.DE)warned investors on Friday it would not be able to post anoperating profit as planned this year without further cost cutsgiven difficult markets. “A positive operating result requires additional costsavings,” Lufthansa said in a statement. “The goal is to avertan operating loss in the current financial year and tosustainably increase the earnings power in the following years.” Lufthansa had initially aimed for a “clear” operating profitthis year. Lufthansa on Friday cited a 50 percent rise in the fuelprice since the end of the first quarter along with fallingrevenue due to lower volumes and prices which continued acrossthe sector in the second quarter.