February 19. 2009

Mr. Stanford has ripped off thousands of people of color in Venezuela and Antigua in criminal misdeeds that threatens to sink the latter nation of 70,000. 

This is a continuation of yesterday's article Another Madoff Surfaces Part 3. Texas billionaire, R. Allen Stanford, accused of a "massive, ongoing fraud" estimated at $9 billion, has been found after two days and served SEC papers in a civil suit. Are they kidding - it should be a criminal suit.

Stanford is well-connected, which is how he evaded justice and accountability in America. Sadly, this is just how the U.S. government operates, in covering for rich and famous criminals, while sending the "average American" to jail for the least little thing.

Stanford has many friends in Washington, such as House Speaker, Nancy Pelosi and former senator, current Secretary of State, Hillary Clinton.

He also gave money to many politicians to curry favor with them. This allowed him to run amok for years, quietly destroying the finances of investors worldwide. This is another example of the widespread corruption that has destroyed the U.S. economy at the American people's expense. The government has failed the people in a mighty way.

Customers queuing to get their money from Stanford's bank in Antigua only to be told all assets are frozen. Their money is now tied up, thanks to Mr. Stanford's fraud, during a terrible recession. What perfect timing (not).

It has once again been revealed, just as I previously wrote regarding Bernard Madoff, the SEC knew Stanford was not legit, as early as 10 years ago, but did nothing to stop him.

This misconduct on Stanford's part and criminal negligence by the SEC and FBI, has cost international investors billions of dollars in certificates of deposits.