- Jan 4, 2002
Allen Stanford Missing: Federal Authorities Do Not Know His Whereabouts
UPDATE: MSNBC is reporting that Allen Stanford tried to hire a private jet to flee the US.
According to ABC News, federal authorities do not know the current whereabouts of Texas banker R. Allen Stanford, who was accused Tuesday by the SEC of trying to bilk some 50,000 customers out of $8 billion. His apparent disappearance comes despite raids Tuesday of Stanford's offices in Houston, Memphis, and Tupelo, Miss.
ABC also reports that federal authorities say the case could grow as big as the $50 billion ponzi scheme allegedly perpetrated by Bernie Madoff
For Stanford's other controversy, click here.
For more information on Stanford's political donations, click here.
For seven surprising shockers from the SEC's complaint on Stanford, click here.
For a slideshow of Stanford's influential circle of friends, including powerful Senator Chris Dodd and golf superstar Vijay Singh, click here.
Look at this from the NY Times:
The current S.E.C. charges stem from an inquiry opened in October 2006 after a routine exam of Stanford Group, according to Stephen J. Korotash, an associate regional director of enforcement with the agency"s Fort Worth office.
He said the S.E.C. "stood down" on its investigation at the time at the request of another federal agency, which he declined to name, but resumed the inquiry in December 2008.
Is the entire US economy of the last eight years a pile of cards ? Another $50 Billion dollar scheme which has come apart.
They need to investigate the living dayouts out of the Republican Texas senator, the democrate chair of commence board and whomever pull the plug on the inital investigation. My moneys on Tom Delay whom recieved the largest contributions during that time.
I say bring back