On the Radar: Bernie Madoff Lite?
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/CRIME/02/17/sec.stanford/art.stanford.afp.gi.jpg caption="Stanford presents a trophy to the winners of his Twenty20 cricket tournament in November 2008."]
Cate Vojdik
AC360° Writer
The SEC has filed a federal lawsuit in Dallas accusing Texas financier R. Allen Stanford of bilking 50,000 customers out of $8 billion dollars by claiming unrealistic returns. Meantime, Stanford is AWOL. The feds have raided his offices in Houston, Memphis and Tupelo, Mississippi, but they don't know where the alleged con man is right now.
Here's what we do know about Stanford: He's a billionaire financier and cricket promoter. He reportedly owes hundreds of millions of dollars in federal taxes. Records show four federal tax liens against him from 2007 and 2008.
The picture that's emerging calls to mind another accused scammer: Bernard Madoff. Granted, Stanford's alleged fraud is a fraction of Madoff's alleged Ponzi scheme. But according to some reports, American financial regulators years ago found significant securities violations at Stanford's company that some experts say were telltale signs of deeper problems. Hmm, sound familiar?
This latest alleged fraud is coming to light two months after the Madoff debacle broke. Joe Johns will tell us more about Stanford and his operations Thursday on 360°.
See you at 10 p.m. eastern.
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Filed under: 360° Radar • Cate Vojdik |
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Mr Cooper,
It would be a lot of help for us, the people that may lose our monery with Stanford, if CNN provide some guideline about how to proceed in order to get our money back.
It is needed a lawyer...?? or We need to contact the SEC..?
This would be a good news and will have interest for many people.
WHO CARES BRO
DO SOME MORE STUFF THAT MAKES SENSE.
YOUR STORY LINE EVERYNIGHT IS SO CORNY
Monkey see-monkey do. These are the ones that we know of--a lot of the Madoff's culture is still preying.
I have seen pregedice and I am here to tell you that you can't stereo type America ,we are getting so far ahead and a deversity is here except for the ones who don't let it go .....he had no right to call us a nation of cowards because he is one himself.because he doesn't have white and dark friends together doesn't mean we are all hid out like him.I am so angry about this. Do we have double standards ? It is o.k. for one race to talk about another and it's o.k. ? Why does everything have to do with race with rolan ,is he not willing to let it all go and our children can move forward .how dare you put this thought into my childs head after we have worked to teach her everyone is equal and all gods children .Are you different , rolan ?Do you think you are above god and are not equal like the rest of us.
I have seen pregedice and I am here to tell you that you can't stereo type America ,we are getting so far ahead and a deversity is here except for the ones who don't let it go .....he had no right to call us a nation of cowards because he is one himself.because he doesn't have white and dark friends together doesn't mean we are all hid out like him.I am so angry about this. Do we have double standards ? It is o.k. for one race to talk about another and it's o.k. ? Why does everything have to do with race with rolan ,is he not willing to let it all go and our children can move forward .how dare you put this thought into my childs head after we have worked to teach her everyone is equal and all gods children .are you differe nt ? rolan do you think you are above god and are not equal like the rest of us.
I think I'm finally learning how things work now. Government inefficiencies work FOR rich pricks like Maddoff, Nardelli, Stanford, and Wagoner and AGAINST honest, responsible consumers. Instead of relying on our government to help us recover, we should all take advantage of our incompetent government to take what we want.
whats wrong with these people, without great detail i have done eveything right and there is good chance i am going to lose my home, due to things out of my control
Anderson, sry I feel familiar after watching you so much. My husband served two terms in vietnam, my son, two in iraq. We have long been a family that loves our country, except the bush part. I lost my job last fall, and CANNOT find another. We have lost most of our belongings and have put all our faith in our new president. My husbands credit is now ruined, and we are losing our home. We have both been hardworking all our lives, and my husband and children are native american, not that it matters. We had a very good life two years ago, better than most, what happened?
Just so you know, this is how things are now.
I like to know why that small business have problems getting business loan
Why aren’t there incentives for the people, that are approaching in the next 10+ years, retirement, that have the means to purchase real estate without any need for bailout funds? There are many of us out there that have lived within our financial boundaries in order to plan for our futures. We could be the ones that actually kick start the economy.
My bet is he is already out of the country, sippin a mai tai on a beach. (sigh)
The fact that anyone would get offended that our Attorney General offered his personal opinion/perception that our nation is cowardly with regard to race relations just proves his point. Get real, get over it – we don't like speaking about race relations, we whisper of our disapprovals when anyone unlike us moves into our, neighborhood, and for most of us we don't feel comfortable with people who are different than us. Let's see: how many of you would welcome in your home a middle eastern arab refugee, an african orphan, or put your gun down at the border when a family is seeking work to feed their family?
If there are 79 million home owners in the United
States, why do we need 75 billion dollars to bailout 9-10 million. the math doesn't add up.
Anderson,
I am watching your show in Okinawa, Japan and I really appreciate the point you made to the three gentlemen arguing about "the Nation of Cowards" comment. You asked them not to talk over each other and speak one at a time, reminding them that it is very annoying for the viewers to see this behavior. Thank you very much for not tolerating uncivilized discussion on your show! I have never seen anyone take control of their segment like you did. The world needs more professional, honest, and dedicated journalists such as yourself. Keep up the good work!
Alfredo Balderas
Kadena Air Base, Okinawa, Japan
Anderson where on earth did you find Ron Christie-please tell him to get his head out of the sand-racisim is alive and well- yes we have a black president and a black attorney general but we still have to contend with it every day-and this Ron fellow please tell Roland Martin to please take him in hand and teach him something about black history.
Yet another Swindle. When are we going to learn. Let's not be so greedy.
david gergen, i respect you dearly, & no you haven't lived in a black man's shoes. the chief law officier is right oh the mark. slavery enden & a more updated one took over. the same thing happen in the 60's; mordan day slaver has been going on every since then. the cartoon is racist & thats just the way it is in this united states of america. look at how much your panel disagrees. it's a shame we cannot even talk about racism without arguing. come on ron, get your head out the boonies.....
Anderson–
Moments ago you stopped the chat and asked the guests to stop talking over each other. You said it is annoying. It certainly is. It happens on all the evening talk shows and I hate it. It's about information, not verbal combat entertainment. Thank you for speaking up. Keep it up.
David Asgard
We don't live in a perfect America, but I think for the TOP COP to make comments like he did is Disgraceful...