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Allen Stanford stripped of his knighthood

November 3rd, 2009

Before You Invest

Disgraced Texas financier R. Allen Stanford is being stripped of his knighthood in the Caribbean nation of Antigua and Barbuda, the head of the government panel that approves the awards said Monday.
The National Honors Committee voted unanimously to revoke Stanford’s title for embarrassing the nation by running an alleged Ponzi scheme out of his Antigua-based offshore bank, Chairwoman Jacqui Quinn-Leandro said.

Stanford, once a benefactor of the Antiguan government, is in jail in Texas awaiting charges for allegedly defrauding some 28,000 investors out of $7 billion by selling them what U.S.

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Tags: Baldwin Spencer, Bank Ltd, Caribbean Nation, Certificates Of Deposits, Cricket Stadium, Disrepute, Financial Institutions, Government Panel, Honors Committee, Knighthood, Local Authorities, Member Of Parliament, Members Of Parliament, Offshore Bank, Ponzi Scheme, Private Employer, Public Announcement, Queen Elizabeth, Queen Elizabeth Ii, R Allen

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Brawlin’ Bernie: Madoff victorious in first prison fight

October 14th, 2009

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Bernie Madoff, after a heated debate with a fellow inmate over whether the stock market has actually bottomed out, reportedly got into his first altercation since being sentenced to 150 years in a Butner, N.C., federal prison.

Inmates who witnessed the fight told The New York Post that Mr.

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Tags: Altercation, Bernie Madoff, Butner, Federal Inmates, Federal Prison Inmates, Fellow Inmate, Investment, Investors, Life Sentence, Mammoth, New York Post, Ponzi Scheme, Prison Survival, R Allen, Shock, Slammer, Solitary Confinement, Stanford, Stock Market, Survival Tips

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SEC and Stanford Victims Oppose Standford Request For Money

May 5th, 2009

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Stanford Group Co. investors and U.S. regulators are opposing Texas billionaire R. Allen Stanford’s request to unlock $10 million in frozen assets to defend against allegations he ran an $8 billion Ponzi scheme.

The U.S. Securities and Exchange Commission sued Stanford, two associates and three of his companies on Feb.

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Tags: 10 Million, Allegations, Certificates Of Deposit, Companies In Receivership, Corporate Assets, Financial Group, Frozen Assets, High Yield Certificates Of Deposit, Investors, Money, Personal, Preliminary Injunction, R Allen, Regulators, Sec, Securities And Exchange, Securities And Exchange Commission, Stanford Group, Texas Billionaire, Wrongdoing

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Stanford Financial Sued by Charity

February 23rd, 2009

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Stanford Financial Group Co. and its chairman, Houston billionaire R. Allen Stanford, were sued by a Colorado investor over claims the company’s alleged $8 billion fraud may have wiped out a charity’s investment.

Johan Dahler, the trustee for a Colorado-based charity benefiting poor people in Mexico and Central America, alleged Stanford employees engaged in fraud and conspiracy by lying about returns on investments at Antigua-based Stanford International Bank, according to a complaint filed Feb.

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Tags: Billionaire, Certificates Of Deposit, Criminal Charges, Fbi, Financial Group, Financier, Fredericksburg Virginia Area, Harris County Texas, Johan, Massive Fraud, Material Facts, Material Misrepresentations, Money Damages, R Allen, Rocky Mountain, Securities And Exchange, Securities And Exchange Commission, Stanford Employees, Stanford Financial, Subpoena

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Alleged $8 Billion Dollar Fraud by Texas Financier Stanford

February 17th, 2009

Before You Invest

(AP Writer Monica Rhor in Houston)
On Feb. 17th, AP reported that federal regulators charged Texas financier R. Allen Stanford and three of his firms with a “massive” fraud that centered around high-interest-rate certificates of deposit, and raided some of the companies’ offices. Probably most shocking is that the guy’s a Baylor grad!