Tag Archives: United States

Canadian lawyer sues U.S. government over Allen Stanford ponzi scheme

By Drew Hasselback Investors lost billions in the ponzi scheme orchestrated by Texas tycoon Allen Stanford, and now a Canadian lawyer believes he has an innovative legal strategy to recover funds for victims of the fraud who reside outside the United States. Todd Weiler, who specializes in international law, believes that “unconscionable negligence and/or manifest […]

Cassidy and Deutch Introduce Improving SIPC Act of 2012

Today, Congressman Bill Cassidy, M.D. (R-LA) and Congressman Ted Deutch (D-FL) introduced the Improving Security for Investors and Providing Closure Act, or Improving SIPC Act of 2012. The legislation seeks to provide victims of Ponzi Schemes, including ones similar to the scheme carried out by R. Allen Stanford, with a quicker path to a financial […]

The CIA, Banking Scams, and R. Allen Stanford

By Tom Burghardt In a scandal-plagued era such as ours, scarred by murderous wars, occupations and corruption that would make a Roman emperor blush, accused crooks have names; even juiced ones like R. Allen Stanford. Last year, when a federal court in Texas handed down indictments charging Stanford International Bank (SIB) and its officers with […]

Stanford fraud – Summary Chart

The document lists the Stanford International Bank, Ltd. (SIBL) of Antigua and Barbuda depositors by country of origin. Depositors from 114 countries, including the United States, China, and Israel are listed. The most surprising depositor listed was from Bouvet Island, a wind-swept and foreboding uninhabited and volcanically-active Norwegian island in the south Atlantic between South […]

Class Action Suit filed against Antigua

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 […]

Indictment vs. Robert Allen Stanford

U.S. Department of Justice Conspiracy to Commit Mail, Wire and Securities Fraud (Violation of 18 U.S.C. § 371) Stanford Financial Group (SFG) was the parent company of Stanford Internatioon Bank, Ltd. and a web of other affiliated financial services entities, including Stanford Group Company. SFG maintained offices in several locations, including Houston, Texas, Memphis, Tennessee, […]

The NASD, the SEC and the DOJ did not disclose critical information

The NASD was a self-regulatory organization of the securities industry responsible for the operation and regulation of the Nasdaq stock market and over-the-counter markets. The NASD watches over the Nasdaq to make sure the market operates correctly. In 2007, the NASD merged with the New York Stock Exchange’s regulation committee to form the Financial Industry […]