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Alex on Stanford


Alex Dalmady, the man who got the ball rolling on R. Allen Stanford, has the last word of the day on the alleged $7 billion scamster.

Stanford: a little help from his friends


stanford3You can officially called R. Allen Stanford the alleged criminal mastermind of a giant multi-year Ponzi scheme.

Stanford’s name, of course, is all over the 21-count indictment. But the big shocker in the investigation into the $7 billion fraud involving those bogus certificates of deposit is an allegation that a top regulator in Antigua–where Stanford’s offshore bank was based–was on the take.

Catch of the day


R. Allen Stanford’s indictment for his role in masterminding the second-largest Ponzi scheme ever was never in doubt, after the Securities and Exchange Commission charged him with civil fraud in February. But that’s not stopping the SEC and federal prosecutors from holding a Texas-sized shindig to trumpet their big get.

The authorities are staging a big press conference at Department of Justice headquarters to announce the filing of crimnal charges against the Texas financier, who was arrested last night in Virginia at the home of his girlfriend’s brother.

Sir Allen arrested


Finally. R. Allen Stanford, the alleged mastermind of the second largest Ponzi scheme on record, was arrested by the FBI on Thursday evening and will be officially criminally charged on Friday.

The criminal charges against Stanford, the Texas financier with the offshore bank in Antigua, comes nearly four months after the Securities and Exchange Commission filed civil fraud charges against him, and moved to shut-down his sprawling Houston-based financial empire.

Allen Stanford lost at sea?


rigThe R. Allen Stanford legal defense story keeps getting stranger and stranger.

While the securities world waits for the inevitable indictment of the Texas financier, he keeps going through lawyers with the same speed the alleged Ponzi mastermind was said to date women. Last week Stanford replaced his civil litigation defense team with a group of lawyers from the little-known Washington, D.C.-based law firm The Gulf Law Group.

The Gulf firm bills itself as a “full-service firm,” but it mainly appears to be a law firm specializing in admiralty and maritime law. On the firm’s homepage there are photographs of a lighthouse, a cargo ship and offshore drilling platform.

Allen Stanford’s many lives


The clock is still ticking on what would appear to be an inevitable indictment for disgraced Texas financier R. Allen Stanford, the man who allegedly ran an $8 billion Ponzi scheme out of his Antigua-based bank. It appears the federal prosecutors manning the investigation are trying to make sure they have an airtight case before filing criminal charges–something Stanford and his lawyer expect will happen any day.

At first blush, it’s hard to fathom why it should take this long for prosecutors to file charges, given that Stanford and two of his top associates were the subject of a civil action by the Securities and Exchange Commission nearly three months ago. One of those associates, Laura Pendergest-Holt, has even been indicted on federal obstruction of justice charges. But still nothing on Stanford.