Tag Archives | Allen Stanford

Allen Stanford gets 110 years. Who did he anger?

Allen Stanford was unquestionably guilty of fraud in the billions of dollars. But he was never allowed bail, got put into the general population in Texas prison while awaiting trial where he was beaten senseless, had something close to a nervous breakdown, then got addicted to prescribed drugs while in prison. In short, his treatment […]

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Allen Stanford ruled incompetent to stand trial

Jailed alleged Ponzi schemer Allen Stanford had been deemed incompetent to stand trial due to possible brain damage due to being severely beaten by another inmate and then subsequent addiction to anti-anxiety meds. The judge specifically said this does not mean he can be released on bail. Unlike all other Ponzi schemers, Stanford was refused […]

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SEC suspected Allen Stanford was a fraud for years, did nothing

The report by the SEC’s inspector general says SEC examiners concluded four times between 1997 and 2004 that Mr. Stanford’s businesses were fraudulent, but each time decided not to go further. It singles out the former head of the SEC’s enforcement office in Fort Worth, Texas, accusing him of repeatedly quashing Stanford probes and then […]

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Financial crime news

(Meant to post this earlier. It’s a little old) Madoff sons assets frozen. What took so long? 7 charged in Galleon insider trading case agree to assist investigators. Rajaratnam must be getting a teensy bit nervous by now Settlements reached in Dreier liquidation case. “”an under-appreciated evil of substantial frauds like those of Marc Dreier […]

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Allen Stanford. They’re trying to break him. Why?

Look, I have little sympathy for Allen Stanford and think he’s no doubt guilty of a multi-billion dollar Ponzi scheme. But while Bernie Madoff stayed in a penthouse awaiting trial, Stanford has been put into the general prison population, got mauled in a fight, looks much worse, his health is suffering, and his family is […]

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Stanford’s chief of security was a top DEA agent

Tom Raffanello was head of the DEA Miami office and led investigations against Noriega and the Medellin cartel. Then he went to work for Allen Stanford. Now he’s being indicted for ordering evidence to be shredded. The comments at Clusterstock are illuminating. Henry Blodget said: There does seem to be quite a connection here. Combine […]

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