Monthly Archives: July 2009

Texas Department of Banking

July 27, 2009 · by · in Allen Stanford, FINRA, HSBC, SEC, TD Bank · Leave a comment

Texas Banking Commissioner And Antigua & Barbuda International Financial Sector Regulatory Authority Sign Agreement On Information Sharing. The Texas Banking Commissioner and the Antigua & Barbuda International Financial Sector Regulatory Authority announce the signing of an Agreement on Information Sharing between the two financial institution supervisory authorities. The agreement provides for information sharing and efficient […]

Stanford’s Shredded Florida Papers Being Reassembled

July 24, 2009 · by · in Allen Stanford, Florida, SEC · Leave a comment

Shredded documents seized from R. Allen Stanford’s South Florida offices are being pieced back together by prosecutors probing allegations the Texas financier ran a $7 billion Ponzi scheme. U.S. Magistrate Judge Barry Seltzer of Fort Lauderdale, Florida, said federal prosecutors told him yesterday that within the next two months they will have “re-assembled the contents […]

Stanford “was informant for US anti-drug agents”

July 17, 2009 · by · in Allen Stanford, SEC · Leave a comment

Sir Allen Stanford, the Texan billionaire who ploughed millions of pounds into English cricket, may have been working as an informant for American anti-drug agents in return for official protection which gave him free rein to run his banking empire, it emerged yesterday. An investigation into the financier has found that just $500m (£331m) of […]

OPEN LETTER TO US PRESIDENT BARACK OBAMA

July 15, 2009 · by · in Allen Stanford, Barack Obama · Leave a comment

By Stanford Victims Coalition Dear President Obama, We are the victims of what has been alleged to be one of the most fraudulent, politically corrupt,and criminal financial operations in history. We are the innocent investors who fell through the cracks of the US financial regulatory structure. We lost our entire life’s savings to a largely […]

Class Action Suit filed against Antigua

July 13, 2009 · by · in Class Action & Lawsuits · Leave a comment

By Peter Morgenstern A major international class action lawsuit was filed today by attorney Peter Morgenstern on behalf of all Stanford International Bank-Antigua victims. The suit is against the Commonwealth of Antigua and Barbuda for claims of $24 Billion under the RICO Act, which entitles plaintiffs to seek treble damages of 3 times the actual […]

HSBC acted as Correspondant Bank to Stanford

July 12, 2009 · by · in Class Action & Lawsuits, HSBC · Leave a comment

While no Stanford financial company had any presence in the UK, they used the British banking system through HSBC London as their correspondent bank for all deposits in Sterling and Euros. Most people around the world are aware of HSBC bank. HSBC gave SIB an aura of respectability which simply wasn’t appropriate or warranted. Having […]

Florida banking agency helped Stanford set up unregulated office to sell his CDs

July 5, 2009 · by · in Allen Stanford, Florida · Leave a comment

Florida regulators – over objections by the state’s top banking lawyer – gave sweeping powers to banker Allen Stanford, accused of swindling investors of $7 billion. Years before his banking empire was shut down in a massive fraud case, Allen Stanford swept into Florida with a bold plan: entice Latin Americans to pour millions into […]

R. Allen Stanford and Miami-based Greenberg Traurig

July 5, 2009 · by · in Allen Stanford, FINRA, Florida, SEC · Leave a comment

Miami Herald runs an excellent story on R. Allen Stanford (charged with multi-billion fraud) and a new angle: the stage was set for Stanford’s multi-billion fraud in 1998, the year Stanford persuaded Florida banking regulators to grant his company special rights to open a Miami office outside the scrutiny of federal banking regulators. In this […]