Media Outrage

Media Outrage Celebrity Gossip, and everything that is going on in the Media!

Took Them Stacks And Ran: $8 billion of Them

Posted by Media Outrage on February 19, 2009

allen-stanford

These thieves are thick as hell. R. Allen Stanford is being accused of stealing more than $8 billion in a scam. Smh @ this level of thievery during an economic crisis.

Via Yahoo:

Being a Texas billionaire who loved cricket should’ve raised some red flags immediately. Now Robert Allen Stanford may be charged as the newest scam artist on the financial block…once the Securities and Exchange Commission finds him.

Not that Searchers haven’t been looking for the money manager themselves. Queries for “allen stanford” (also known—and misspelled—online as “robert allen stanford,” “r allen stanford,” “sir alan stanford,” and the like) popped up into the top 5,000 searches after a “caravan” of feds drove up February 17 and took over the headquarters of his financial services company, the Stanford Group, under charges of old-fashioned fraud.

Sir Stanford, however, wasn’t there to hand over the keys and to face charges, although his cohorts were. His whereabouts were unknown. One report says he tried to hire a private jet to fly to his Caribbean home but ignominiously failed due to a rejected credit card. It appears only wire transfers are acceptable from sweaty-palmed financiers.

The Stanford Group (which has more than 50 offices spread across six continents), ratcheted triple the searches of its founder. Stanford, however, may only be a pip-squeak version of Bernie Madoff: Despite allegedly perpetuating an $8 billion fraud (Madoff’s damage is an estimated $50 billion), there’s no evidence of a Ponzi scheme here, according to The Business Insider.

The fraud involved telling customers that the CDs they were buying came from investments in “easily sellable financial instruments, monitored by more than 20 analysts and audited by regulators on the Caribbean island of Antigua.” Instead, Stanford and chief financial officer—otherwise known as the accomplice—James Davis allegedly handled the whole thing, hid 90 percent from oversight, and funneled a chunk into not-so-easy-to-sell assets like real estate and private equity investments. 

Still, the why of Stanford‘s alleged fraud demands an explanation, and people have been seeking clues into the fifth-generation Texan’s background (“r allen stanford biography“). His Sir title came courtesy of Antigua—although its prime minister once called him “haughty, arrogant and obnoxious.” The West Indies island is also where he based his Stanford International Bank and flamboyantly funded the Stanford Superstars cricket team, which beat mighty England in November and won $20 million. Unfortunately, the chance to recoup any losses through cricket is nil for now: The Wall Street Journal reported that the English Cricket Board “suspended negotiations with Mr. Stanford about further matches.”

Also, as might be expected from someone who had $2.2 billion to his name, Stanford donated to political campaigns, and Republican senators are now moving fast to shuffle contributions to charity. (They might want to consider St. Jude Hospital, which Stanford had supported.)

The Baylor University graduate also once claimed kinship to Leland Stanford, the founder of the private  California university, but the school sued in October to stop that nonsense. That lawsuit will probably have to move a little further down on the financier’s docket.

Mediaoutrage– It’s time for the justice system to grow some f**king ballz and prosecute these scum bags to the highest extent the law will allow. Forget sending them away for 3 years at a country club with bars. Jack their fortune and throw them in a cell with Jamal, Shykeem, Dirty, Gee-Money, Raphique and let them turn his butt-hole into the neighborhood Holiday Inn.

3 Responses to “Took Them Stacks And Ran: $8 billion of Them”

  1. JUICEE said

    And they always watching blacks closely, okayyy!!! the biggest thieves are higher up. I dont trust a damn soul with my money, people be careful, true story here, i knew this old woman when i was growing up, she use to wear layers of clothes, people treated her like shit, thought she was broke, bummy, etc, she never trusted anyone with her money, or anything, so people thought she was just weird, when that woman died, and they bought her body out, they also bought out bags, and i mean lawn bags and bags and bags filled to the brim with money, you would think it was filled with leaves, it was all money, and her lawyer stepped up and said she was donating all that money to this place here for children w/ no parents, when they finish counting that money, this woman saved over 5million alone . i was floored. and no one had a clue, if them junkies knew that, they would of burned a hole in the side of that house to get in, LMAOOOO!!! another true one here, this guy use to walk up and down the ave here beggin for dollars, tall really dark, scary looking dude, i use to run when i saw him because i was scared of him, my cousin told me to watch one day, he said that dude is a millionaire, i didnt believe it, he had me watch with him, this dude stood out and begged for like 3,4 hours, then went up the street down a side street and hopped in a bentley and drove off, i was shocked as hell, the next day he was back at it again,

  2. MissTX85 said

    JUICEE WHERE YOU LIVE?! LOL, JUST KIDDING. SERIOUSLY THOUGH IT’S A DAMN THAT THIS MAN AND OTHERS TOO ARE DOING SHIT LIKE THIS. HELL EVERYBODY’S HAVING HARD TIMES AND YET THESE ASSHOLES JUST SIT ON THEIR ASSES AND THINK ABOUT THEMSELVES. I NEED TO FIND BUSH AND FUCK HIS ASS UP FOR THIS SHIT. IT’S JUST A FEW HOURS DRIVE FROM WHERE I’M AT.

  3. JUICEE said

    Miss TX85 , i hear you, im from massachusettes hun, boston . and i think we all want a piece of bush’s ass, see im surprised no one got at that ass by now though, seeing he back in texas right, they should run his ass outta town, sorry ass bastard, he was a disgrace!!!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: