Jeff Tillotson, who represents Pendergest-Holt, chief investment officer of Stanford's parent company, told The Associated Press, "We obviously deny that our client has committed any crime." He has said she was "set up" by Stanford.

Cindy Dore and her husband invested their life savings in a Stanford CD. On Friday, investigators warned her her and about 5,000 other investors that they do not expect much of that money will be recovered.

"Of course, it's very distressing to know it might be gone. We're happy to see due process continue and things that are hidden uncovered and law followed," she said.

Back in April, Stanford told KPRC Local 2 that he expected to be indicted, but denied he has done anything wrong. He blamed the downfall of his company on SEC regulators who shut it down last winter.

"After all this time and all this hoopla, you sitting here interviewing me right now, you're not interested in me because I'm a nice guy to talk to, you want something sizzling, nasty and negative to talk about and that's an indictment," he said.