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Stanford found guilty of $7bn fraud

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Stanford found guilty of $7bn fraud Empty Stanford found guilty of $7bn fraud

Post by Pete C (Kiwireddevil) Wed 07 Mar 2012, 10:13 am

A Houston court has found Texan financier and cricket fan Allen Stanford guilty of running a ponzi scheme fraud over 2 decades, pocketing around $US 7bn. As well as financing his lavish lifestyle Stanford lavished funds around the Caribbean, to many US politicians' election funds, and to the ECB. He faces up to 20 years in prison.

http://www.espncricinfo.com/ci/content/current/story/556479.html
Pete C (Kiwireddevil)
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Post by Peter Seabiscuit Wheeler Wed 07 Mar 2012, 10:25 am

Glad they got him. Fraud is notoriously difficyult to prove in court, although the sheer extent and ridiculousness of what he did is staggering.

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Post by guildfordbat Wed 07 Mar 2012, 11:12 am

Per ESPNCricInfo - the ECB have ''no immediate comment''. Given the way they courted and pandered to Stanford, I'm not surprised they're keeping their heads down and mouths shut.

All rather different though to when Mervyn Westfield was recently convicted. I don't condone Westfield's actions but hardly feel the ECB have the right to make any judgment, moral or otherwise.


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Post by Guest Wed 07 Mar 2012, 6:53 pm

im very glad they caught him, send him away!

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