MASSIVE FRAUD - US Marhsalls enter Stanford Financial Group's Houston Office

[DavidS]

U.S. agents seen entering Stanford office in Houston | U.S. | Reuters

HOUSTON (Reuters) - Federal agents with the U.S. Marshals Service entered the Houston office of Stanford Financial Group on Tuesday, according to a Reuters eyewitness on the scene.

 

[rayboyusmc]

[The Securities and Exchange Commission today charged a prominent Texas businessman and three of his companies with an $8 billion fraud in the sale of certificates of deposit. The case appears to mark one of the largest alleged frauds by a money manager in U.S. history.


Robert Allen Stanford and his companies sold $8 billion of CDs -- guaranteed fixed-income investment products -- to investors by "promising improbable and unsubstantiated high interest rates," the SEC said in a statement. The agency named in its complaint Stanford International Bank Ltd., based in Antigua, and related firms based in Houston.
/QUOTE]

Start giving these buttwads life sentences. PT Barnum is alive and well and was right on the numbers.

washingtonpost.com

 

[Chris]

Does this ever end???

Financier charged with $9.2 billion investment fraud - Feb. 17, 2009

NEW YORK (CNNMoney.com) -- The Securities and Exchange Commission said Tuesday that it has charged financier R. Allen Stanford and three of his companies with orchestrating a $9.2 billion investment and sales fraud.

The SEC's complaint alleges that the fraud centered on a CD program in which Stanford International Bank promised "improbable and unsubstantiated high interest rates."

SIB, based in Antigua, allegedly acted through a network of Stanford Group Company financial advisers to sell approximately $8 billion of "certificates of deposit" to investors.

 

[DavidS]

http://www.usmessageboard.com/econo...stanford-financial-groups-houston-office.html

 

[Charles_Main]

String them up!!

 

[Chris]

String them up!!

When are we going to start putting these people in jail?

 

[Peejay]

String them up!!

When are we going to start putting these people in jail?

Don't be absurd. Jail is for people who steal a $300 television set. If you can manage to steal a billion or so you get house arrest. The hard part is chosing which multi million dollar home to confine yourself to.

 

[Avatar4321]

Why exactly should we expect this to end? People are dishonest. it's the world we live in. I would love to live in a world of perfect honesty. But people arent like that. Especially in our culture where dishonesty is always rewarded.

Become an honest person yourself, and let the system take care of the dishonest.

 

[midcan5]

"People who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge men into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs."
Timothy 6:9-10

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