The Complete Sir Allen Stanford Story

The Sir Allen Stanford Story: The Emperor Has No Clothes Revisited -- Latin American Herald Tribune

In a scheme going back over 20 years, it appears that Stanford's "Banks" were nothing more than a ponzi scam, bilking investors for billions -- atleast $8 billon and counting -- but it took a smart Venezuelan analyst named Alex Dalmady to cry out that the emperor had no clothes, setting off a chain of events that within two weeks would lead to the collapse and closure of affiliated banks in Caracas, Canada, Colombia, Peru, Ecuador and Antigua.

In the early days of America, a banker was discussing how he came to be so rich. “Well, I didn’t have much else to do, so I rented an empty store and painted “BANK” on the window. The first day I was open for business, a man came in and deposited $100. The second day another fellow came in and deposited $250, and so along about the third day, I got confidence enough in the bank to put in a hundred myself.”

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My Comment: This financial Ponzi scheme, with all of its political connections, are revealed in detail .... and in full .... by this article.

I also consider this article to be the best news story that has so far been done on the Stanford Financial scandal. The reporter outlines the history of this scandal, the connections, the political favors, and the corruption it spawned in all of its glory details.

It is a long article to read, but all the dirt is there.

Rogue Financier Stanford Linked To Fund Run By Bidens

Hunter and Beau Biden. Source: 25aug2008

From FOX News:

A fund of hedge funds run by two members of Vice President Joe Biden's family was marketed exclusively by companies controlled by Texas financier R. Allen Stanford, who is facing Securities and Exchange Commission accusations of engaging in an $8 billion fraud.

The $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and a Stanford Financial Group entity and was known as the Paradigm Stanford Capital Management Core Alternative Fund. Stanford-related companies marketed the fund to investors and also invested about $2.7 million of their own money in the fund, according to a lawyer for Paradigm. Paradigm Global Advisors is owned through a holding company by the vice president's son, Hunter, and Joe Biden's brother, James.

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My Comment:The monies involved are large. This is not petty cash.

Accused Financier Under Federal Drug Investigation Was Praised By House Speaker Pelosi And President Clinton At The National Democratic Institute

Allen Stanford

Accused Financier Under Federal Drug Investigation -- ABC News

Authorities: Stanford May Have Laundered Drug Money for Mexican Cartel

The SEC's fraud charges may be the least of accused financial scammer R. Allen Stanford's worries. Federal authorities tell ABC News that the FBI and others have been investigating whether Stanford was involved in laundering drug money for Mexico's notorious Gulf Cartel.

Authorities tell ABC News that as part of the investigation, which has been ongoing since last year, Mexican authorities detained one of Stanford's private planes. According to officials, checks found inside the plane were believed to be connected to the Gulf cartel, reputed to be Mexico's most violent gang. Authorities say Stanford could potentially face criminal charges of money laundering and bribery of foreign officials.

Authorities say the SEC action against Stanford Tuesday may have complicated the federal drug investigation.

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My Comment: These politicians may not have known what type of man he is .... but they loved his money.

Texas Businessman Sought Influence in Corridors of Capitol

The Antigua Sun, controlled by Texas financier R. Allen Stanford, published this photo in a June 2008 article describing an encounter with then-Sen. Barack Obama after a Miami speech by the presidential candidate. A White House spokesman said, "This is one of hundreds of thousands of photos the president took at events during the campaign."

From The Wall Street Journal:

WASHINGTON -- Texas businessman R. Allen Stanford, whose multibillion-dollar investment empire was ordered seized Monday by a federal judge, has long enjoyed big influence in Washington thanks to a steady supply of campaign contributions, Caribbean trips for lawmakers and fees to lobbying firms.

Mr. Stanford and his affiliated companies have spent more than $5 million on lobbying fees since 2000, federal records show. The businessman and his top executives have also contributed at least $2 million to candidates, including key lawmakers, and additional thousands of dollars on jets and resorts.

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My Comment: I thought McCain - Feingold would not make this possible. Sigh .... let's face it, the lobby industry is now too powerful .... and unless radical changes occur (which I doubt) .... lobbying and the corruption that it ferments will always be a part of Washington.

Update: Manhunt: Accused Financier Scammer Stanford Missing -- ABC News

Financial Scandal Implicates Democrats And Republicans Receiving Donations

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.

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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..