Stanford Trial

Discussion in 'Wall St. News' started by kinggyppo, Jan 24, 2012.

  1. what's the over under on this guy being found guilty, makes me wonder while others steal billions and nothing is done:

    Prosecutors say Stanford used money from the sale of the CDs, which were sold to clients from more than 100 countries, to pay off those purchased earlier once they matured and to support his other businesses, which included other banks, a brokerage firm that sold the CDs, an airline, cricket grounds and restaurants. They say Stanford used up to $2 billion of investor funds as personal loans to support his lavish lifestyle, and that he and three former executives at his companies who also face charges covered up their misdeeds by fabricating the bank's records and bribing Antiguan regulators.

    this sounds like every big company out there including the United Way.. thoughts?
  2. Thoughts?...yes, there are many, many skeletons in the closet.
  3. I only have public info I have no idea what the deal is here. He has been in jail for a while though and looks like he took a beating as well. Throw me a skeleton......:)
  4. I should clarify. I'm not referring to skeletons specifically related to Stanford, but to this practice and the probable number of other entities that have yet to be caught or exposed.
  5. ...and to think how many other firms have pulled or are pulling a Corzine-move and balancing their investments with segregated customer's funds!:eek:
  6. Options12

    Options12 Guest

  7. There ya go. It's literally not even a thought until the house of cards collapses. Within a few months, the press stops covering it and magically it disappears. Of course, if one has the misfortune of being a victim of the fraud, it lasts a lifetime.

    The system is cannibalizing itself, that much is self evident.
  8. Remember Refco? Of course not, coz reporting restrictions were placed on the bankruptcy hearings, seems it was not in the public interest to know what would come out in the wash.