first posted: alex delmady, veneconomy (here's the english version): http://www.filesavr.com/ducktales really good stuff at salon (third one most interesting, alex dalmady comments some more): http://blogs.salon.com/0001330/2009/02/09.html#a4205 http://blogs.salon.com/0001330/categories/venezuela/2009/02/12.html#a4210 http://blogs.salon.com/0001330/categories/venezuela/2009/02/12.html#a4211 more stuff: http://www.portfolio.com/views/blog...whats-going-on-at-stanford-international-bank http://caracasgringo.wordpress.com/...tanford-international-bank-show-me-the-money/ http://www.businessweek.com/magazine/content/09_08/b4120022131798.htm?campaign_id=magazine_related (check out the comments section on this one - esp. the part about insider bringing it to the attention of FINRA in 2007 after being fired, and charges ignored) http://www.businessinsider.com/whis...d-at-sir-allen-stanfords-offshore-bank-2009-2 (in spanish) http://venepiramides.blogspot.com/ interesting how a fund with 8 billion couldn't make payment of 62 million for failed merger (EMAG) unfortunate someone sued them in '06 as a ponzi scheme, settled out of court...and the sec has been investigating them since july (!) find this funny: world finance man of the year, 2008, mr. stanford! http://worldfinance.com/magazinearticles/article488.html
gryphon investigations warns against stanford - which is basically in bed with the antiguan government: http://blog.gryphoninvestigations.com/2009/02/stanford-financial-group-being-examined.html He also operates two major Antiguan banks, the domestic Bank of Antigua and the Stanford International (Offshore) Bank. <b>It is widely believed that the British Government invited Stanford to leave Montserrat because of his financial activities. During his 7 February 2003 press conference, Prime Minister Bird himself admitted that he had received stark warnings about Stanford from the US and UK. </b>Nevertheless, Bird still encouraged Stanfordâs tremendous influence. Amongst other ventures, Stanford interests control the Bird International Airport, the Caribbean Star Airline and the new Caribbean Sun Airline, which offers "seamless service" between South America, the Caribbean and the U.S. He also owns the Islandâs largest newspaper. Stanford has "loaned" funds to the Government and made large financial "gifts" to its Ministers. In return, he has amassed a large amount of real estate, which has been turned over to him after forceful ultimatums in which he threatened withdrawal of further financial support unless his demands were met within 24 hours. These demands were all met â with the exception of Half Moon Bayâ¦, a point not lost in the history now being written http://www.mondaq.com/article.asp?articleid=29255&login=true (login via bugmenot)
WSJ article, 2002: http://web.archive.org/web/20021023000547/http://www.landofsixpeoples.com/news02/nc203314.htm (Reprinted from The Wall Street Journal, March 5, 2002) There is little in this former British colony, which includes the island of Barbuda, that isn't being branded by Mr. Stanford, a distant relative of Stanford University's founder. (snip) The 51-year-old Mr. Stanford owns Antigua's biggest commercial and offshore banks, a local airline, Caribbean Star, and Antigua's biggest newspaper. He is the former chairman of the government board that oversees Antigua's offshore financial sector. Since he also lends a great deal of money to the government, he puts off many Antiguans wary of his imposing influence. At the moment, some people are complaining about Antigua's intention to nationalise the Half Moon Bay hotel, taking it from its American owners and, they suspect, selling it to Mr. Stanford. (snip) The Texan, whose offshore banking activities here have come under close U.S. State Department and Treasury scrutiny in the past, says he hopes to steer clear of politics. He's focusing on plans to develop Antigua's airport into a choice entertainment destination for West Indians and his preponderantly Latin American bank clients. To help ferry them in, he is negotiating the acquisition of AMR Corp.'s American Eagle regional Caribbean operations out of San Juan, Puerto Rico. What the expanding Stanford empire will mean for Antiguans remains unclear. As one recent caller to a radio talk show dedicated to Mr. Stanford and the Half Moon fight concluded glumly in his English patois: "You know, mon, we folk can be bought for a drink of rum and a chicken leg."
cds on this firm is now trading at 98. Costs you 98 cents to get 100 if they fold. jk, but thats MY price on it.
Stanford Depositors Head to Antigua for Redemptions Yes,I am writing this from Antigua. My vast fortune was entirely with this institution. They will not let me cash in my CD's. What should I do. Signed, Yeta Nother Shmuck.
SEC charges stanford! let's see if they can find the man, pronto, and recover some small amount of money. "james donaldson" deftly avoids the charges: http://www.incakolanews.blogspot.com/2009/02/stanford-right-to-reply.html the huge red flags are: 1) having "CDs" (not real CDs) paying vastly more than the market and 2) paying salesman considerable chunks of money to sell the above CDs. if i could sell antigua short, i'd have done it a few days ago.
You know, scum like this were so obvious to me on the face of it that I fail to comprehend how the govt or any investor could fall for a scam like this. He makes Madoff look like Jesus Christ. We have no govt if this guy could operate for so long. to paraphrase the song, are we human, or are we assholes?
Wheres the documentation for that Bush claim. And who else did this slime pay off? no gay marriage proponents among them?
there's plenty to blame bush for. that's not one of them. sanford gave money to plenty of politicians, democrats and republicans. no need to make it partisan, plenty of corruption and blind eyes on both sides...