By: D. H. Williams @ 12:33 PM - EST
With the help of an anonymous tip FBI agents were waiting on Allen Stanford who is the latest in a line of financial fraudsters to bilk investors out of billions. Stanford surfaced in a upscale Virginia community about 50 miles south of Washington on February 19th.
Federal Bureau of Investigations agents were waiting yesterday at a residence in the Fredericksburg area when Stanford’s car pulled up, he was accompanied by an unidentified woman. The FBI agents served him court papers.
Authorities thought Allen Stanford might have fled to Antigua a place he spends most of the year. Stanford’s banks in Antigua are nearly insolvent as depositors hurry to withdrawal their funds.
Stanford, 58 has been charged by the Security and Exchange Commission will allegedly misleading customers in the sale of certificates of deposit and other financial products. The losses continue to mount as the original number published has gone from $8 billion a few days ago to $9.2 billion in the latest estimate.
FBI say Mr. Stanford was cooperative & cordial.
If someone robs a liquor store for $20 they are likely to get a baton to the head or 50,000 volts of electricity run through their heart for their troubles. But when billionaire criminals steal the gross domestic product of a small nation they get court papers and a cordial meeting from federal authorities.
If you thought Allen Stanford was off the streets think again. currently there are no criminal charges filed against the alleged financial fraudster and cocaine money launderer.
However Stanford is under investigation by the FBI and DEA with officials inside those organizations saying the investigations will likely lead to further encounters with Mr. Stanford in the future.
A federal judge has asked that Stanford and some senior employees of his banks surrender their passports. The judge has also begun to freeze assets that can be located and under his jurisdiction.
Maybe Stanford could bunk with Madoff in his multi-million dollar penthouse suite.
Video: Bloomberg takes a look inside the Allen Stanford case
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1 comment so far ↓
I said it elsewhere,I’ll say it here:
Expect Sir Stanford Scamalot to commit suicide…
possibly even by his own hands.
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