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Message
re: Allen Stanford's Ponzi back in the news (Baton Rouge question)
Posted on 2/17/24 at 12:03 pm to Tomatocantender
Posted on 2/17/24 at 12:03 pm to Tomatocantender
So how many people were in on this? It appears 3 by the last post in the thread.
Where did all the investors money go? 7B is a lot for 3 people to blow through.
Where did all the investors money go? 7B is a lot for 3 people to blow through.
1
Posted on 2/18/24 at 7:26 am to GREENHEAD22
quote:
So how many people were in on this? It appears 3 by the last post in the thread.
This is what I never understand about these multi billion dollar scams where only a handful or less of people go to jail. The second he moved to Houston this became a regulated product/entity within the US. Think about all those law firms hired to keep the NASD and SEC regulators looking the other way, all those accounting firms that rubber stamped his GAP interim and STAT audited financials every year, all those banks that had a fiduciary duty to report anti money laundering or Patriot Act activity etc. You cannot tell me that competitor brokerage houses and even mid cap banks didn't file complaints because they were losing money hand over fist to the Stanford Group. But yet only 3 people went to jail with 2 of them getting sweetheart deals to testify against the big guy.
This post was edited on 2/18/24 at 7:28 am
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