S.E.C. Official Demoted Despite Spotting Stanford

``Julie Preuitt repeatedly sounded the alarms from 1997 onward that the Texas financier R. Allen Stanford was operating a huge Ponzi scheme. Those concerns were ignored until 2009, when her bosses at the Securities and Exchange Commission finally brought action against Mr. Stanford... [but Mrs Pruitt was then] marginalized and demoted at the S.E.C., where she once oversaw examiners in the agency's Fort Worth office.''