Image: R. Allen Stanford (Photo from The Daily Mail)The Next Big Financial Scandal -- American Thinker
Critical mass of public attention has been reached. A financial scandal uncovered by a blogger has led to charges of a massive financial scandal. It is yet another financial scheme luring in investors with returns that actually were too good to be true. And yet another guy who has given a lot of money to Democrats.
The SEC accuses Stanford International Bank, run by billionaire R. Allen Stanford, of "massive, ongoing fraud" in selling $8 billion worth of certificates of deposit bearing unreasonable high interest rates.
The bank is located in Antigua and has customers all over the Caribbean. US operations are in Houston, where US authorities have centered their probe.
Read more ....
Update #1: Accused fraudster gave big to Dems -- The Politico
Update #2: Riehl World View is connecting the dots.
My Comment: This story is still ongoing. The Democrats got the most money, but the Republicans also have some dirt on their hands..
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