Allen Sanford update - Ponzi scheme fail

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.
Lambkin
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Re: Allen Sanford update - Ponzi scheme fail

Post by Lambkin »

110 years.

http://www.nytimes.com/2012/06/15/busin ... -case.html
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ArthurWankspittle
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Re: Allen Sanford update - Ponzi scheme fail

Post by ArthurWankspittle »

Heard this earlier. With the allowance for good behaviour he should be out in about 91 years.
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NYGman
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Re: Allen Sanford update - Ponzi scheme fail

Post by NYGman »

http://www.bbc.com/news/world-35283297

Still professing his innocence. and spewing his: It wasn't me, I didn't run a Ponzi Scheme, the SEC/Gov't were out to get me, I am the victim here


I am sure his victims feel the same way, oh wait, many were old, and are now dead
To date only around $292m has been recovered, with $73m returned to Stanford's estimated 28,000 investors. Many are elderly and more than 170 have died since the scandal broke in 2009. Stanford is highly critical of the way the receivership has been handled, describing it as "a court-sanctioned theft of unimaginable proportions".
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notorial dissent
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Re: Allen Sanford update - Ponzi scheme fail

Post by notorial dissent »

Obviously he means theft from him, since he didn't do anything wrong, that and some swamp land in Zaire.
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Gregg
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Re: Allen Sanford update - Ponzi scheme fail

Post by Gregg »

I was under the impression that Sanford was the only case I had ever heard of where the receiver had recovered more than the initial investments of the victims and they were actually getting a small profit compared to their initital investments.

Possibly, we're learning the difference between a big judgement and actually getting the cash a jury awarded you.
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