All victims should be entitled to the protections of the SIPA

By SIVG

LETTER TO THE HONORABLE JUDGE ROBERT L. WILKINS 

The Honorable Judge
Robert L. Wilkins
US District Court for the District of Columbia
333 Constitution Avenue NW
Washington D.C. 20001
The United States of America

Ref. – SEC v SiPC (Case No.: 1:11-mc-00678-RLW) 

Honorable Judge Wilkins:

The undersigned, non-US citizens, victims of the Stanford Ponzi scheme, very respectfully address this urgent letter to you, accompanied by evidences that we have collected with regard to marketing materials of the Stanford International Bank as well as other Stanford entities, which were used in the scam for sale of CDs by most financial advisors involved in this terrible crime defrauding thousands of people worldwide.

Stanford’s victims are predominantly people who invested their life savings in the Stanford entities because they trusted U.S. legal regulations which seemed to support the Stanford businesses. Stanford’s marketing portfolio generally included publications with the SEC, FiNRA and SiPC logos on.

The companies controlled and directly or indirectly owned by Allen Stanford operated in a highly interconnected fashion to advance the selling of SiBL CDs. In addition, Stanford’s financial advisors relied on the apparent legitimacy offered by US regulation of Stanford’s US brokerage subsidiary (SGC) in order to generate sales of SiBL CDs. Likewise, in order to buy CDs through the Stanford Financial Group of Companies (SFG), a global network of financial services companies based in Houston, Texas, innocent investors from different places and countries were made to submit an account application that bore the SiB logo and indicated that customers were entering into an agreement with SGC, an NASD/FiNRA and member of SiPC.

On the other hand, the SEC has alleged in its civil suit against Stanford et al., that, the SFG of Companies operated a massive Ponzi scheme; and, an entity that operates as a Ponzi scheme is a matter of law. Therefore, any insolvent entity cannot issue real securities and, the SiPC/SiPA has previously been used –Old Naples Securities– to protect investors regardless of the fact that the securities were fictitious, as in the case of SiBL CDs.

Judge Wilkins, if the SiBL CDs had no value due to the fact that most of the money was stolen in a Ponzi scheme, then the SiBL CDs cannot be replaced, can they? Therefore, when missing securities cannot be replaced by SiPC, a client of the bank is entitled to compensation of his/her net equity investments; this is the CDs in our case. Besides, all victims’ life savings were stolen by NASD/FiNRA-registered financial advisors, members of SiPC, mostly vice-presidents, as official representatives not only for the SGC, but also for the conglomerate of entities of the SFG, including the SiBL and the STCL in Antigua.

Finally, it is well documented that during more than a decade, Stanford Financial had printed and distributed to its Financial Advisors thousands of brochures offering SiBL CDs. Additionally, Stanford Financial launched an intensive TV advertising campaign in The United States to promote the sale of SiBL CDs. By 2008, Stanford Financial had distributed nearly 6,000 SiBL CD “Accredited Investor” packets to investors under the Reg. D offering.

With all due respect, the Stanford International Victims present the attached evidences to you, which we hope be considered in Court for the current litigation SEC v. SiPC.

Very truly yours,
The Stanford International Victims Group

February the 9th, 2012
Contact us at: www.sivg.org

The following business cards show “different company’s name” having the same Stanford logo/name, and the same Email-Domain “stanfordeagle.com”. More Evidences.
Here is the letter delivered to Honorable Judge Wilkins, received and sealed by the US District Court.

 

LETTER TO Dr. BILL CASSIDY 

Mr. Representative
Dr. BILL CASSIDY
Washington DC Office
1535 Longworth HOB
Washington, D.C. 20515
The United States of America

Ref. – SEC v SiPC (Case No.: 1:11-mc-00678-RLW) 

Distinguished Dr. Cassidy:

The undersigned, non-US citizens, victims of the Stanford Ponzi scheme, very respectfully address this urgent letter to you, accompanied by evidences that we have collected with regard to marketing materials of the Stanford International Bank as well as other Stanford entities, which were used in the scam for sale of CDs by most financial advisors involved in this terrible crime defrauding thousands of people worldwide.

Stanford’s victims are predominantly people who invested their life savings in the Stanford entities because they trusted U.S. legal regulations which seemed to support the Stanford businesses. Stanford’s marketing portfolio generally included publications with the SEC, FiNRA and SiPC logos on.

The companies controlled and directly or indirectly owned by Allen Stanford operated in a highly interconnected fashion to advance the selling of SiBL CDs. In addition, Stanford’s financial advisors relied on the apparent legitimacy offered by US regulation of Stanford’s US brokerage subsidiary (SGC) in order to generate sales of SiBL CDs. Likewise, in order to buy CDs through the Stanford Financial Group of Companies (SFG), a global network of financial services companies based in Houston, Texas, innocent investors from different places and countries were made to submit an account application that bore the SiB logo and indicated that customers were entering into an agreement with SGC, an NASD/FiNRA and member of SiPC.

On the other hand, the SEC has alleged in its civil suit against Stanford et al., that, the SFG of Companies operated a massive Ponzi scheme; and, an entity that operates as a Ponzi scheme is a matter of law. Therefore, any insolvent entity cannot issue real securities and, the SiPC/SiPA has previously been used –Old Naples Securities– to protect investors regardless of the fact that the securities were fictitious, as in the case of SiBL CDs.

Dr. Cassidy, if the SiBL CDs had no value due to the fact that most of the money was stolen in a Ponzi scheme, then the SiBL CDs cannot be replaced, can they? Therefore, when missing securities cannot be replaced by SiPC, a client of the bank is entitled to compensation of his/her net equity investments; this is the CDs in our case. Besides, all victims’ life savings were stolen by NASD/FiNRA-registered financial advisors, members of SiPC, mostly vice-presidents, as official representatives not only for the SGC, but also for the conglomerate of entities of the SFG, including the SiBL and the STCL in Antigua.

Finally, it is well documented that during more than a decade, Stanford Financial had printed and distributed to its Financial Advisors thousands of brochures offering SiBL CDs. Additionally, Stanford Financial launched an intensive TV advertising campaign in The United States to promote the sale of SiBL CDs. By 2008, Stanford Financial had distributed nearly 6,000 SiBL CD “Accredited Investor” packets to investors under the Reg. D offering.

With all due respect, the Stanford International Victims present the attached evidences to you, which we hope be considered in your plans to file legislation to allow investors of R. Allen Stanford to individually opt out of a federal lawsuit for one-time buyouts of up to $500,000. Improving SiPC Act of 2012 legislation is firmly related to current litigation SEC v. SiPC.

Very truly yours,
The Stanford International Victims Group

February the 9th, 2012
Contact us at: www.sivg.org

The following business cards show “different company’s name” having the same Stanford logo/name, and the same Email-Domain “stanfordeagle.com”. More Evidences.

Read more: http://sivg.org/article/2012_Victims_protections_SIPA.html

Visit the Stanford International Victims Group – SIVG official forum http://sivg.org/forum/

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