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US authorities 'had been investigating Allen Stanford for 15 years'(& laundering for Mexican cartel)
The Times(UK) ^ | 02/19/09 | David Byers, Suzy Jagge, and James Bone

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 ...


TOPICS: Business/Economy; Extended News; Foreign Affairs; News/Current Events
KEYWORDS: aliens; allenstanford; drugcartel; drugwarconsequences; dualcitizenship; fraud; mexico; offshorefinance; stanford; thankprohibition; wod
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1 posted on 02/19/2009 6:25:06 AM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

Ping!


2 posted on 02/19/2009 6:26:42 AM PST by TigerLikesRooster (kim jong-il, chia head, ppogri, In Grim Reaper we trust)
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To: TigerLikesRooster

The SEC is a worthless oganization formed by Rossevelt to keep any *unwanted* players out of Wall Street.


3 posted on 02/19/2009 6:31:21 AM PST by wolfcreek (There is no 2 party system only arrogant Pols and their handlers)
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To: TigerLikesRooster

US authorities ‘had been investigating Allen Stanford for 15 years’

Not very good at that their job are they?


4 posted on 02/19/2009 6:34:46 AM PST by SECURE AMERICA (Coming to You From the Front Lines of Occupied America)
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To: TigerLikesRooster

Wow. 15 years. What was the rush?


5 posted on 02/19/2009 6:35:02 AM PST by Wolfie
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To: TigerLikesRooster
"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."

If our boy doesn't get found by the FBI within a few days i suspect he will never be found. At least not with his head attached to his neck.
6 posted on 02/19/2009 6:39:36 AM PST by GonzoGOP (There are millions of paranoid people in the world and they are all out to get me.)
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To: TigerLikesRooster

“Papa Bird” and “Baby Bird” have been holding the loot for a LONG TIME!


7 posted on 02/19/2009 6:40:33 AM PST by WellyP
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To: TigerLikesRooster

And they wonder where he’s hiding??? Check Cozumel or Cancun first...


8 posted on 02/19/2009 6:42:26 AM PST by SueRae
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To: stockpirate; AvOrdVet; MaggieCarta; indylindy; roamer_1; calcowgirl; djsherin; Sunnyflorida; ...
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.

No wonder the guy was giving money to John McCain.

9 posted on 02/19/2009 6:45:49 AM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: SueRae

A good part of that money is going through Antigua!


10 posted on 02/19/2009 7:05:00 AM PST by WellyP
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To: TigerLikesRooster

Fifteen years of doing nothing? That sounds like a really cool job. Where do I sign up?


11 posted on 02/19/2009 7:22:24 AM PST by bgill
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To: TigerLikesRooster

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.


12 posted on 02/19/2009 7:23:05 AM PST by Venturer
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To: TigerLikesRooster
They have a office in Downtown Little Rock.

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

13 posted on 02/19/2009 7:26:49 AM PST by spectre (sw )(Congress lied...the economy died)
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To: spectre
If he passed up such an opportunity, it would be probably his first.:-)
14 posted on 02/19/2009 7:30:01 AM PST by TigerLikesRooster (kim jong-il, chia head, ppogri, In Grim Reaper we trust)
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To: rabscuttle385; TigerLikesRooster

I heard on radio news yesterday that Sanford is a citizen of another country. Anyone else hear more about that?


15 posted on 02/19/2009 7:33:42 AM PST by AuntB (The right to vote in America: Blacks 1870; Women 1920; Native Americans 1925; Foreigners 2008)
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To: SueRae
As per the Fort Worth Star Telegram, he lives in the US Virgin Islands...http://www.star-telegram.com/business/story/1212322.html

Another 15 year sting operation should give more details of his location.

16 posted on 02/19/2009 7:33:42 AM PST by Deaf Smith
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To: Wolfie

It sure took them a long time to pull the trigger. Probably got the word that Stanford was going to “disappear”.


17 posted on 02/19/2009 7:35:39 AM PST by popdonnelly (I went to an Obama Townhall and threw away my crutches!)
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To: SECURE AMERICA

They probably meant the more accurate statement; We were watching him for 15 years.


18 posted on 02/19/2009 7:39:54 AM PST by himno hero
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To: Deaf Smith; All; SwinneySwitch; gubamyster

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


19 posted on 02/19/2009 7:45:55 AM PST by AuntB (The right to vote in America: Blacks 1870; Women 1920; Native Americans 1925; Foreigners 2008)
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To: himno hero
As with Madoff, maybe the “silver lining” of the feckless SEC inaction is that the 8 Billion was bilked from libs.
20 posted on 02/19/2009 7:47:58 AM PST by SanFranDan
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