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20 February, 2009

FBI Finds Allen Stanford in Virginia


Notice how Class divisions rule treatment of crooks. He didn’t steal money. He “spooked international investors.” No “manhunt” for SIR Allen Stanford, but rather “the subject of intense speculation.”

And with what was SIR Allen Stanford “served” when he was finally caught? A glass of white wine and a filet mignon? La Dee Da. Any other crook would have been served with plastic handcuffs and a fine tasering.

This guy wasn’t even picked up. “He is making arrangements to surrender his passport …” Oh really. Here’s a guy charged with “massive ongoing fraud” and he’s free to run around clipping people’s wallets?

People, we’re through the looking glass here. The time for Revolution is HERE!


Washington / St. John's - Texas billionaire Allen Stanford, accused of an $8 billion fraud that spooked investors around the world, was found in Virginia on Thursday and FBI agents served him with a complaint from U.S. regulators.

FBI spokesman Richard Kolko said the Federal Bureau of Investigation had acted at the request of the U.S. Securities and Exchange Commission (SEC), and that Stanford had not been arrested. A law enforcement official said Stanford was making arrangements to surrender his passport.

The whereabouts of jet-setting, 58-year-old Stanford had been the subject of intense speculation since he failed to respond to a subpoena from the SEC to answer questions about his company's operations. Stanford has homes in the United States and the Caribbean.

The SEC filed civil charges in Dallas, Texas, on Tuesday against Stanford, two colleagues and three Stanford companies, accusing them of a "massive ongoing fraud". Earlier this week, U.S. federal agents raided Stanford Group Co offices in Miami, Houston and other U.S. cities.

Five Latin American countries have acted against Stanford businesses, and Britain's Serious Fraud Office (SFO) is monitoring a possible U.K. link after media reports that Stanford's books were audited in Britain.

Stanford was found in the area of Fredericksburg, Virginia, about 50 miles south of Washington, D.C. The fallout from the SEC charges against the financier and sports entrepreneur prompted investigations in the United States, Latin America and Europe.

The Wall Street Journal reported on Thursday that U.S. federal prosecutors were investigating whether Stanford was operating a Ponzi scheme. In a Ponzi scheme, money from new investors is used to pay earlier investors.

The SEC has accused Stanford of fraudulently selling $8 billion in certificates of deposit with impossibly high interest rates from his Antiguan affiliate, Stanford International Bank Ltd (SIB).

The scandal, emerging hard on the heels of allegations that Wall Street veteran Bernard Madoff carried out a $50 billion fraud spooked international investors and sharply increased public distrust of investment plans.

In Caracas, Venezuela, the government of socialist President Hugo Chavez seized Stanford Bank Venezuela, one of the country's smallest commercial banks, to stem massive online withdrawals.

Here’s his picture:


  1. The mass media also likes to describe these various billionaire swindlers as 'philanthropists'.

  2. No matter what corruption or graft these capitalists and tycoons commit upon the people, nothing seems to spark any concerted reaction. Its similar to the 1929 Depression and the succeeding years--the masses did nothing, but simply stood around like slaves after the wall street bankers impoverished and fleeced them. And to think it just took some minor taxes to ignite the ire of our nation's forefathers. Different type of man back then.