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Started By
Message
1
Posted on 12/28/20 at 4:10 pm to Jim Rockford
quote:
Stanford, now serving a 110-year prison term,
Well I can’t complain about that
Posted on 12/28/20 at 4:50 pm to Janky
It was around 10% on a “CD”
Posted on 12/28/20 at 5:44 pm to ScottAndrew
Yeah, for some reason the number of 8% was in my head. I think it was around double the industry standard at the time.
Posted on 12/28/20 at 5:55 pm to Janky
At the time the very highest yield you could find for sketchy cd’s was 6-8. Stanford did come in about twice what was reasonable. Unfortunately, few investors (or their attorneys) bothered to read the first page of the prospectus. It read like a hedge fund. The brokers slinging the shite did an astonishing job of getting out in front and making it sound legit and making investors feel confident. It goes much deeper on the how but not putting it on the board
Posted on 12/28/20 at 5:59 pm to Jim Rockford
150 million returned, 149.5 million in legal fees
Posted on 12/28/20 at 6:02 pm to LSU-MNCBABY
To be fair, the attorneys working on any remedies left for those impacted did their very best and worked tirelessly. Your point is well taken though. shite sandwich all the way around
Posted on 12/28/20 at 6:03 pm to jbgleason
quote:
The people who got screwed get $150 million out of over $7 Billion he stole?
Remember kids crime doesn't pay
Posted on 12/28/20 at 6:21 pm to MrLSU
quote:
Remember kids crime doesn't pay
Well not for this guy at least since he’s in prison
Posted on 12/28/20 at 6:29 pm to ScottAndrew
quote:Wtf? Why not? You can't leave us hanging like that.
goes much deeper on the how but not putting it on the board
Posted on 12/28/20 at 6:30 pm to biglego
quote:
Well not for this guy at least since he’s in prison
...and he got the shite kicked out of him in prison early on.
Posted on 12/28/20 at 6:48 pm to saint tiger225
Identities of folks that are free and not indicted would easily be known. Suffice to say everything those guys at Stanford did was heinous, sleezy, and disgusting. One person in particular didn’t even worked there, but concocted a lot of the scheme/product to make it look on the up and up. Enough to fool numerous securities attorneys (and regulators for a while)
Posted on 12/28/20 at 6:53 pm to Jim Rockford
quote:Stanford is lucky the judge didn't give him life...
Stanford, now serving a 110-year prison term
Posted on 12/28/20 at 6:53 pm to Jim Rockford
Is Stanford the only one who went to jail or did any of the guys working for/with him (Baton Rouge or Houston) go, too?
Posted on 12/28/20 at 6:54 pm to LSURussian
Haven’t read the adjudication in years but doubt he sees the light of day
Posted on 12/28/20 at 6:58 pm to DallasTiger
I’m pretty sure. The only one who might have died quickly after everything came out of I think a massive heart attack
Posted on 12/28/20 at 7:00 pm to ScottAndrew
Interesting, thanks.
How, though, did these guys avoid jail? They had to be completely aware of what they were doing for and with him.
They roll over on him or...?
How, though, did these guys avoid jail? They had to be completely aware of what they were doing for and with him.
They roll over on him or...?
Posted on 12/28/20 at 7:01 pm to Jim Rockford
I love how these wise investors are called “Victims”
Investing funds with a “ Bank” in the Cayman Islands with returns far better than any U. S. bank was offering at the time. This was a simple case of greed by these so called victims, and it caught up to them. Do your homework when investing, and if the returns are too good to be true..... well you know the rest.
Investing funds with a “ Bank” in the Cayman Islands with returns far better than any U. S. bank was offering at the time. This was a simple case of greed by these so called victims, and it caught up to them. Do your homework when investing, and if the returns are too good to be true..... well you know the rest.
Posted on 12/28/20 at 7:03 pm to Jim Rockford
I know a guy that lost 1.5 million with him. He used to brag to my dad about getting 10 percent on his CD’s with Stanford. I remember my dad telling him how are you getting 10 when everyone else gets 2? Dad said it’s either a ponzie scheme or drug money.
Posted on 12/28/20 at 7:03 pm to DallasTiger
Most claimed they didn’t know what they were really selling (unconscionable I know). Lots of judgments against their personal assets and some license revocations. The govt wanted Stanford. There was a where are they now a year or two ago in the business report
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