Category Archives: fraud

Did the Feds Kill the SEC’s Stanford Investigation?

There’s a tantalizing tidbit at the end of the NYT’s Stanford report today: 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 … Continue reading

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Stanford: Criminal Charges Almost Certain

The SEC case against Allen Stanford comprises little more, right now, than a civil complaint; more private cases are now being filed. What does this mean for Stanford himself? Is he subject to arrest anywhere in the world? I asked … Continue reading

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Allen Stanford, Ponzi Operator

Patrick Kidd says that Allen Stanford is "another victim of the biggest economic crisis since the 1930s"; Joe Wiesenthal says that nobody is accusing Stanford of being another Ponzi scheme. So before this meme takes root, let’s be clear about … Continue reading

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Stanford: The Manhunt Begins

Given the amount of time that the SEC and the media have been sniffing around his operation, today’s fraud charges can’t have come as much surprise to Allen Stanford. And given that he owns banks in many different jurisdictions (the … Continue reading

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Millennium: A Stanford Copy-Cat

Adrienne Carter has found what looks very much to be the first — but surely not the last — of banks which won’t withstand much if any scrutiny in the wake of the Stanford collapse. Does any of this sound … Continue reading

Posted in banking, fraud | 2 Comments

Stanford: How Quickly did the SEC Move?

According to the SEC press release, it has acted with lightning speed: Said Linda Chatman Thomsen, Director of the SEC’s Division of Enforcement: "We are moving quickly and decisively in this enforcement action to stop this fraudulent conduct and preserve … Continue reading

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Highlights of the SEC Complaint Against Stanford

The SEC complaint against Stanford is quite astonishing. Here are some of the highlights, which include a slew of outright lies and even an investment with Bernie Madoff. Impossibly, Stanford’s portfolio managed to rack up identical 15.71% back-to-back returns in … Continue reading

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Stanford: The SEC Moves

The SEC has frozen all the assets of Allen Stanford and his companies, as well as those of his CFO and CIO. I think you can guess why: The SEC’s complaint, filed in federal court in Dallas, alleges that the … Continue reading

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Alex Dalmady, the MSM, and Stanford

Alex Dalmady, the analyst who broke the Stanford story, has a blog now, and he’s not afraid to use it: his latest blog entry has appeared with the headline "The WALL STREET JOURNAL can kiss my ass!": (Update: Dalmady’s entire … Continue reading

Posted in fraud, Media | 1 Comment

Sunday Stanford

The Stanford story is picking up a lot of steam, to the point at which it’s becoming hard to keep up. A lot more information is coming to light about Stanford’s investments, many of which seem to be in highly-illiquid … Continue reading

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