Posted on 02/19/2009 6:25:06 AM PST by TigerLikesRooster
US authorities 'had been investigating Allen Stanford for 15 years'
David Byers, Suzy Jagger in New York, and James Bone in Antigua
American authorities have been suspicious of Allen Stanford's financial dealings for 15 years but only accelerated their investigation after the Bernard Madoff fraud was exposed, it was claimed today.
As investigators continued to hunt Mr Stanford and the $50 billion (£35 billion) of assets connected to him, a financial expert said that the Texan had been on "everybody’s radar" for more than a decade.
The claim, made by the journalist and author Jeffrey Robinson, came as a link was made for the first time between the cricket impresario and a feared Mexican drugs cartel.
The allegations will raise new questions about the due diligence carried out by the England and Wales Cricket Board into Mr Stanford's finances before agreeing to tie up with the billionaire for 20/20 matches.
Mr Stanford, who is being sought by the US Securities and Exchange Commission (SEC), the Wall Street regulator, after being charged with a multi-billion-dollar fraud, boasted of having customers in 140 countries.
/snip
"If he does, he’s got a real problem because he knows an awful lot. And I would suspect there are a number of people, very heavyweight people, throughout the offshore world and in other jurisdictions who really don’t want to be associated with Mr Stanford and are not going to be pleased if he talks. So this man has a very, very serious problem."
/snip
In fresh allegations ABC News claimed the FBI was also investigating whether Mr Stanford was involved in laundering drug money for the Gulf cartel, reputed to be Mexico's most violent gang.
(Excerpt) Read more at timesonline.co.uk ...
Ping!
The SEC is a worthless oganization formed by Rossevelt to keep any *unwanted* players out of Wall Street.
US authorities ‘had been investigating Allen Stanford for 15 years’
Not very good at that their job are they?
Wow. 15 years. What was the rush?
“Papa Bird” and “Baby Bird” have been holding the loot for a LONG TIME!
And they wonder where he’s hiding??? Check Cozumel or Cancun first...
No wonder the guy was giving money to John McCain.
A good part of that money is going through Antigua!
Fifteen years of doing nothing? That sounds like a really cool job. Where do I sign up?
Why investigate him for 15 years?. Well here is a clue.
According to Politico, Texas financier R. Allen Stanford, accused of defrauding investors of as much as $8 billion, gave more than 75% of his $2.2 million in political contributions to Democrats.
Yes: The Republicans got a cut too. It’s funny but large political contributions seem to interfere a lot with investigations.
Bill Clinton was in town yesterday to address the Arkansas Legislature on the current "economic problems".
Were Clinton and his ilk invested with Stanford? Inquiring minds want to know.
sw
I heard on radio news yesterday that Sanford is a citizen of another country. Anyone else hear more about that?
Another 15 year sting operation should give more details of his location.
It sure took them a long time to pull the trigger. Probably got the word that Stanford was going to “disappear”.
They probably meant the more accurate statement; We were watching him for 15 years.
He doesn’t just live in the Virgin Islands..per your article:
“Now a resident of St. Croix, U.S. Virgin Islands, Stanford holds dual U.S.-Antiguan citizenship.”
This ‘dual citizenship’ nonsense, is just that...nonsense. You’re either an American, or you’re not and Sanford has proven he isn’t!
http://www.star-telegram.com/business/story/1212322.html
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