As the investigators dug deeper into Stanford’s operations, they faced roadblocks. They were told by bank employees that they didn’t have jurisdiction to access records of the bank and couldn’t see relevant documents, according to court records.
Madoff also refused to give records to any outsider or even to most employees. And for good reason, considering everything was fraudulent.
On Tuesday, a federal judge in Dallas froze the assets of Stanford, several associates and his companies.
Stanford’s passport has been seized and he is apparently having trouble hiring a lawyer because he has no available money.
Regional central bank seizes Stanford’s Bank of Antigua. What will the economic repercussions be for this poor nation, now in a period of declining tourism, when much of their economy turns out to be fictitious?
Around the same time, however, Texas securities regulators found evidence of potential money laundering involving Stanford, an official said Friday in Austin. But, because the activity involved offshore banks, it was referred to the FBI and SEC.
“Why it took 10 years for the feds to move on it, I cannot answer,” Securities Commissioner Denise Voigt Crawford told the Senate Finance Committee in Austin.
Because the fix was in?