Billionaire Stanford Returned To Texas

Billionaire R. Allen Stanford is back in Texas to face federal charges that he ran a $7 billion scheme to defraud investors with his international banking empire.

Dick DeGuerin, Stanford's attorney, says his client arrived in Houston on Tuesday and is being held in the Montgomery County Jail in nearby Conroe. Stanford was transferred by U.S. Marshals from Virginia, where he was arrested last week after being indicted in Houston on charges that his banking empire was really just a massive Ponzi scheme.

DeGuerin says Stanford is scheduled to make his first court appearance in Houston federal court at 11 a.m. EDT Thursday.

Three executives of Stanford Financial Group and a former bank regulator from Antigua also were indicted in Houston.

[excoachken]

Funny how so many worthless scam artists get their start in TexASS.

[stn_sage]

They need to take Madoff, Stanford, Greenspan, Bernanke, SEC officials, and all their accomplices, helpers, and enablers AND place them in Guantanamo!

Turn IT into a 'white-collar' crime prison! They could easily fill it up with criminal s*c*u*m like these guys!

[brianbwb-2009]

The entire investment industry is a ponzi scheme, and has been since it's inception.

A thorough and uncorrupted audit of all investment companies, insurance companies, and banks will show that most, if not all, are corrupt. even those who don't want to be corrupt still must sooner or later do business with those who are, and so the entire industry is infested with these rats, roaches, coliform bacteria, and other forms of scum.

Those who wish to invest should pick a business project, do the due diligence, and do business directly with the business in which they are considering investing with.

Those too lazy, stupid, or gullible enough to study their potential investment targets, who choose instead to trust hucksters they don't know personally, or believe investment companies hype, or even the prospecti of large crooked corporations with their life savings, deserve to lose their money.

[naj1953]

I meant these people are not above the law and should go to prison

[naj1953]

Good this people are not above the law and should go to prison