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Disgraced Financier (R. Allen Stanford) Arrested In Virginia

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tomm2thumbs Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Thu Jun-18-09 10:24 PM
Original message
Disgraced Financier (R. Allen Stanford) Arrested In Virginia
Edited on Thu Jun-18-09 10:25 PM by tomm2thumbs
Source: CBS news

(CBS) Law enforcement sources confirm that billionaire financier R. Allen Stanford is in custody, reports CBS News correspondent Bob Orr. He was arrested tonight by FBI agents at his sister's house in Stafford, Virginia.

Stanford has been accused by the SEC of running a massive Ponzi scheme.

He surrendered to FBI agents from the Washington and Richmond field offices. It is believed he will be taken to Richmond tonight for processing, Orr reports. The Department of Justice is expected to make an announcement Friday regarding possible charges.

Investigators have said the Texas billionaire financier's offshore bank and financial companies used rosy financial predictions and old-fashioned deceit to lure investors into a scam.

Read more: http://www.cbsnews.com/stories/2009/06/18/business/main...


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   Replies to this thread
   Bears watching for sure Rec # 5 (I love it when I get to do that) n/t  Mira   Jun-19-09 12:02 AM   #1 
   Why not just call him a CRIMINAL?  radhika   Jun-19-09 12:08 AM   #2 
   you can't be a "criminal" if you wear a $3000 suit to work everyday  Blue_Tires   Jun-19-09 08:53 AM   #3 
   Vote for Bush  Turbineguy   Jun-19-09 10:07 AM   #4 
   Stanford charged with fraud in US (BBC)  eppur_se_muova   Jun-19-09 05:38 PM   #5 
   "Sir" Allen my ass....  pfitz59   Jun-19-09 10:27 PM   #6 
   Notice how a billionaire gets arrested- no TV cameras, HE seems to set the stage  underpants   Jun-20-09 08:20 AM   #7 
      What!?!? No perp walk?!?!?  Hugin   Jun-20-09 08:37 AM   #8 
 
Mira Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Donate to DU! Fri Jun-19-09 12:02 AM
Response to Original message
1. Bears watching for sure Rec # 5 (I love it when I get to do that) n/tUpdated at 11:28 PM
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radhika Donating Member (156 posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Jun-19-09 12:08 AM
Response to Original message
2. Why not just call him a CRIMINAL?
There's a tendency in media to use softer labels for rich, white-collar professional criminals like Stanford and Bernie. Do we ever talk about disgraced 'street-corner pharmaceutical sales reps'?
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Blue_Tires Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Jun-19-09 08:53 AM
Response to Reply #2
3. you can't be a "criminal" if you wear a $3000 suit to work everyday
:sarcasm:
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Turbineguy Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Jun-19-09 10:07 AM
Response to Original message
4. Vote for Bush
and trust your money to Allen Stanford.

What could possibly go wrong?
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eppur_se_muova Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Jun-19-09 05:38 PM
Response to Original message
5. Stanford charged with fraud in US (BBC)
Texan billionaire Sir Allen Stanford has been charged in the US with fraud and obstruction.

Announcing the indictment, the justice department said it related to a $7bn scheme to defraud investors.

Soon after, the 59-year-old appeared in court in Virginia and was remanded in custody pending a full detention hearing to be held in Texas.

He already faces civil charges over an alleged fraud worth $8bn (£6bn) - charges he denies.

Sir Allen had turned himself in to the FBI on Thursday after a warrant was issued for his arrest.
***
more: http://news.bbc.co.uk/2/hi/americas/8109690.stm
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pfitz59 Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Jun-19-09 10:27 PM
Response to Reply #5
6. "Sir" Allen my ass....
enough of this pseudo-royalty nonaense..
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underpants Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat Jun-20-09 08:20 AM
Response to Original message
7. Notice how a billionaire gets arrested- no TV cameras, HE seems to set the stage
Stanford's Attorney Dick DeGuerin said Stanford walked out and asked if the agents had a warrant. He told them to arrest him if they did and that he planned to return to Houston on Friday to turn himself in if they didn't.
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Hugin Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat Jun-20-09 08:37 AM
Response to Reply #7
8. What!?!? No perp walk?!?!?
No footage of a Peace Officer cramming Stanford's coat covered head into the back seat of a Cruiser?!!?!

There is no Justice!

Damn.

:gerr:
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DU AdBot (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat Nov 21st 2009, 08:23 PM
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