R. Allen Stanford (no surprise here)

Stock and Bond Fraud, including Boiler Rooms / Pump and Dump Schemes, Mutual Fund & Hedge Fund Fraud, FOREX scams, plus Churning, Private Placements, Venture and Bridge Funding, IPOs, Viaticals Fraud, HYIP and Prime Bank scams, MTNs, Historical Notes, Recovery Schemes, etc. Includes the Jim Norman Project and the Michael Dotson Project and similar HYIP scams.
User avatar
Demosthenes
Grand Exalted Keeper of Esoterica
Posts: 5773
Joined: Wed Jan 29, 2003 4:11 pm

R. Allen Stanford (no surprise here)

Postby Demosthenes » Tue Feb 17, 2009 6:51 pm

• FEBRUARY 17, 2009, 12:25 P.M. ET
SEC Charges Stanford

By SIOBHAN HUGHES
WASHINGTON -- The Securities and Exchange Commission on Tuesday filed civil charges against financier R. Allen Stanford, alleging he orchestrated a multi-billion dollar scheme centering on an $8 billion certificate of deposit program.
Reuters
The SEC said R. Allen Stanford "perpetrated a massive fraud based on false promises and fabricated historical return data to prey on investors."
Federal regulators said the wealthy financier promised improbable and unsubstantiated high interest rates that were supposedly earned through a unique investment strategy that purportedly allowed the bank to achieve double-digit returns on its investments for the past 15 years.
"As we allege in our complaint, Stanford and the close circle of family and friends with whom he runs his businesses perpetrated a massive fraud based on false promises and fabricated historical return data to prey on investors," SEC enforcement director Linda Thomsen said in a statement. "We are moving quickly and decisively in this enforcement action to stop this fraudulent conduct and preserve assets for investors."
It marks the second time in as many months that regulators have stepped in to allege a multi-billion fraud that promised investors unrealistically high returns. It was only in December that the SEC and criminal authorities charged Bernard L. Madoff, a former chairman of the Nasdaq Stock Market, with leading a $50 billion swindle.
Demo.

Famspear
Knight Templar of the Sacred Tax
Posts: 7171
Joined: Sat May 19, 2007 1:59 pm
Location: Texas

Re: R. Allen Stanford (no surprise here)

Postby Famspear » Wed Feb 18, 2009 12:54 am

The case is:

Securities and Exchange Commission, Plaintiff
v.
Stanford International Bank Ltd
Stanford Group Company
Stanford Capital Management LLC
R Allen Stanford
James M Davis
Laura Pendergest-Holt,
Defendants


U.S. District Court for the Northern District of Texas (Dallas)
case no. 3:09-cv-00298-L
Judge Sam A Lindsay

The Court has appointed Ralph S. Janvey as Receiver.
...why is anyone in this [losthorizons] community paying the least attention to...'Larry Williams' [Famspear], or other purveyors of disinformation from...quatloos? – Pete Hendrickson, former inmate 15406-039, Fed’l Bureau of Prisons

absdes96
Scalawag
Scalawag
Posts: 70
Joined: Mon Dec 29, 2008 8:55 pm
Location: Midwest

Re: R. Allen Stanford (no surprise here)

Postby absdes96 » Wed Feb 18, 2009 12:55 am

Oh...Good Morning!

Stories like these are going to pouring down soon, aren't they?

It seems the definition of Ponzi or Pyramid scheme will be extended well beyond what we have typically associated it with for the last 30 years.
The mongoose of a disciplined mind and will is more than a match for the cobra of desire and emotion. - Professor Dallas Willard, USC


Return to “THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance”

Who is online

Users browsing this forum: No registered users and 1 guest