Former Stanford Financial CFO details fraud, lies and bribes

[seafan]

Source: Miami Herald

In a stunning blow to billionaire Allen Stanford, the chief financial officer of his collapsed empire told prosecutors that his boss had been stealing from investors for decades while paying bribes to regulators and even performing blood oaths never to reveal his secrets.

James Davis described desperate meetings in Miami with Stanford and members of his inner circle -- including a rendezvous in a hangar at Miami International Airport -- to keep the operation from unraveling as regulators were closing in early this year.
The plea agreement Thursday in Houston by Stanford's longtime confidant represents the most devastating testimony so far against the disgraced banker accused of concocting a massive Ponzi scheme.

Investors from around the world -- including more than 2,000 from Stanford's luxurious offices in downtown Miami -- were scammed out of more than $7 billion over the past decade, say prosecutors.
Stanford, 59, who has denied any wrongdoing, was rushed to the hospital just hours before the plea agreement was filed in court, complaining of a rapid heartbeat and chest pains.

.....

In 2002, Stanford started to pass money to former Bank of America executive Leroy King -- Antigua's top banking regulator -- asking him to overlook any discrepancies his investigators found in the bank's portfolio.




Read more: http://www.miamiherald.com/486/story/1205860.html

---

... a former Bank of America executive, was it?


Wonder if Stanford is planning to pull a Ken Lay, complete with no autopsy, followed by cremation...

[atreides1]

1. I doubt that Stanford will pull a Ken Lay

Last I heard the man was in Federal custody, so if he pull's a Ken Lay while in jail, it'll be the best trick since Houdini.

[earcandle]

2. Is it Paraguay these rich dead people go to live after their public funerals?

Cheney may go to South America heaven when his time comes as
well.