It appears that the jig is up in America. The scammers like Bernard Madoff (his having the most far reaching effects) have had the curtain pulled back on all of their dealings. The latest to be taken down is billionaire banker R. Allen Stanford. U.S. Marshalls came down on Stanford Financial Group and shut it down on Tuesday. Stanford turned in his passport to show he wasn’t a flight risk.
It is alleged that Stanford has bilked 50,000 of his investor customers out of $8 billion dollars. Stanford’s immense wealth is in the midst of a crunch though. Some of the materials owned by Stanford have been either confiscated or frozen by law enforcement. Some of the documented wealth Stanford enjoys is the ability to put up $20 million dollars in cash (which was displayed in a clear box) for the winner of a cricket tournament between England and the Stanford Superstars in what Bloomberg reports called the Twenty20 for 20 Series, a fleet of luxury jets owned by his company, Stanford’s 120 ft. yacht, and his “pride and joy” mansion in St. Croix.
Stanford has been under investigation for nearly 15 years. The tracks he’s left behind in his financial dealings may have even lead the law to Mexican drug cartels. And to top it all off, guess where he’s from……..TEXAS! And it has been known that he has deep government connections with donations given to both McCain and Obama’s campaigns.
Now that Barack Obama has come in the room, everyone is clammering to put away the contraband or have been caught with their hand in various cookie jars. See the latest con artist and what they expect will happen with him.