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NEWS ABOUT: Robert Allen Stanford

Robert Allen Stanford stories: 39 news summaries

1 - 20 of 39 Stories | 1 2 Next >>

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Sir Allen Banged Up After Jailhouse Fight

Stanford back in cell after suffering broken nose, concussion

Sep 28, 09 2:20 PM CDT
(Newser) - Allen Stanford is back in his jail cell today after spending the weekend recuperating from injuries suffered in a fight with another inmate last week. The alleged Ponzi schemer was taken to the hospital with a concussion, a broken nose, and two black eyes. “He is in reasonably good... More »

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fight • jail • Ponzi scheme • Robert Allen Stanford

 Stanford 'Fraud 
 Scheme Sealed 
 With Blood Oath' 

Banker accused of giving bribes, Super Bowl tickets to Caribbean regulator

Aug 28, 09 6:13 AM CDT
(Newser) - Alleged Ponzi schemer Allen Stanford cut his wrist and made a secret blood pact with the banking regulator of the island of Antigua, where his bank operated, according to court documents. Stanford and the official pressed their bloody wrists together in a "brotherhood ceremony," after which the... More »

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fraud • SEC • conspiracy • Antigua • Ponzi scheme • bank fraud • bank regulation • Robert Allen Stanford

Jailed Financier Stanford Wants Cell With Better A/C

Alleged fraudster files a motion to move to cushier Houston jail

Jul 28, 09 2:15 PM CDT
(Newser) - Accused financier R. Allen Stanford is demanding he be moved from his current jail to a nicer facility in Houston, on grounds that his current cell is not comfortable enough, the New York Post reports. Stanford, charged with swindling investors out of $7 billion, complained through his lawyer that the... More »

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fraud • prison • crime • Ponzi scheme • investor • defrauding investors • Robert Allen Stanford

 Judge Revokes Stanford Bond 


Jun 30, 09 3:10 PM CDT
(AP) - A US district judge today revoked bond for Texas financier R. Allen Stanford, who's charged with swindling investors out of $7 billion. David Hittner approved a request by prosecutors to overturn a magistrate judge's decision to allow Stanford freed on $500,000 bond pending his trial. Prosecutors argued that Stanford's... More »

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Federal Court • bond • bail • Ponzi scheme • federal judges • bank fraud • Robert Allen Stanford • flight risk

(Newser) - The receiver in the R. Allen Stanford case wants seven current and former baseball stars to turn over millions they once invested in Stanford’s alleged Ponzi scheme, intending to divvy up the money among Stanford’s other victims, the Washington Times reports. He’s asking for a combined... More »

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MLB • Andruw Jones • Greg Maddux • Johnny Damon • J.D. Drew • Ponzi scheme • baseball • Carlos Pena • receivership • Robert Allen Stanford • Jay Bell • Bernie Williams

(Newser) - Vijay Singh is sticking by embattled buddy and alleged swindler R. Allen Stanford. The star golfer, who's been sporting the Stanford Companies logo even though he no longer gets paid to do so, offered to put up $500,000 of the billionaire’s bail, reports CNBC. He was denied the... More »

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golf • crime • Vijay Singh • bail • Ponzi scheme • bank fraud • endorsement • federal prosecution • Robert Allen Stanford

Stanford Pleads
Not Guilty in $7B
Ponzi Scheme

Prosecutors call financier flight risk, ask he be held without bail

Jun 25, 09 12:01 PM CDT
(Newser) - Financier Robert Allen Stanford and three former associates pleaded not guilty today to federal charges they operated a $7 billion Ponzi scheme out of Antigua, the Houston Chronicle reports. Prosecutors asked the judge not to release Stanford, 59, on bail, saying his wealth, international connections and prospect of a long... More »

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crime • trial • Antigua • Ponzi scheme • Robert Allen Stanford • Stanford Bank

(Newser) - Alleged billionaire fraudster Robert Allen Stanford and six of his associates were indicted today on charges that they ran a $7 billion Ponzi scheme, the AP reports. Stanford turned himself in to authorities yesterday. “A fair jury will find him not guilty of any criminal wrongdoing,” Stanford’s... More »

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Department of Justice • SEC • billionaire • Antigua • Ponzi scheme • federal indictment • bank fraud • Stanford Financial Group • Robert Allen Stanford • Securities and Exchange Commission

 Stanford Surrenders to FBI 

Alleged fraudster turns himself in after grand jury hands down criminal charges

Jun 19, 09 12:26 AM CDT
(Newser) - Sir Robert Allen Stanford turned himself in to authorities soon after criminal charges were filed against him yesterday, the BBC reports. The billionaire financier is now in FBI custody, according to his lawyer. Stanford, whose firm Stanford Financial was shut down by authorities earlier this year, already faces civil charges... More »

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fraud • Ponzi scheme • defrauding investors • Stanford Financial Group • Robert Allen Stanford

Stanford Exec Faces First Criminal Charge

Probe of alleged Ponzi scheme nabs chief investment officer

May 13, 09 8:26 AM CDT
(Newser) - A federal grand jury in Houston yesterday handed up the first criminal indictment in Stanford Financial Group's alleged Ponzi scheme, reports the Houston Chronicle. Chief investment officer Laura Pendergest-Holt, 35, faces two counts of obstruction. She and boss Allen Stanford already face accusations in a civil suit by the SEC.... More »

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federal courts • Ponzi scheme • federal indictment • bank fraud • Stanford Financial Group • Robert Allen Stanford • Laura Pendergest-Holt

Stanford Was a Drug Informant: Report

Fraudster was likely shielded from SEC in 2006 for his trouble

May 11, 09 7:34 AM CDT
(Newser) - Allen Stanford may have received earlier protection from the SEC by working as a drug trade informant, a BBC investigation has found. The accused fraudster’s bank paid $3.1 million to the DEA a decade ago as a middleman for a Mexican drug lord, and in 2006 an SEC... More »

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fraud • drugs • DEA • SEC • Drug Enforcement Administration • drug trade • Ponzi scheme • bank fraud • Robert Allen Stanford • Securities and Exchange Commission

Stung by Madoff, SEC Steps Up Pace, Triples Fraud Cases

Embarrassed committee gets aggressive with enforcement

May 8, 09 8:18 AM CDT
(Newser) - Haunted by the failure to catch Bernie Madoff, the Securities and Exchange Commission is dramatically stepping up its investigation workload, reports the LA Times. Since February, the SEC has frozen the assets of 27 fraud suspects, compared to seven in the same period last year. “The clear message from... More »

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Ponzi scheme • securities fraud • Bernard Madoff • Mary Schapiro • Robert Allen Stanford • Securities and Exchange Commission

'Devastated' Stanford:
I'm No Thief 

Billionaire denies running Ponzi scheme, points finger at former CFO

Apr 21, 09 2:25 AM CDT
(Newser) - “As God is my witness, there is no Ponzi scheme," accused swindler Sir Robert Allen Stanford told the Houston Chronicle yesterday. His financial companies were well-run before the government seized and "disemboweled" them, claimed the billionaire. If any fraud was committed at Stanford Financial, it was done... More »

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SEC • Ponzi scheme • bank scandal • Stanford Financial Group • Robert Allen Stanford

Stanford Pulled in $5B While SEC Dithered

Feds ignored employee warnings, fumbled
over jurisdiction

Apr 16, 09 12:13 PM CDT
(Newser) - When the Securities and Exchange Commission sent probing questionnaires in 2005 to investors who’d bought certificates of deposit from Stanford Group, panic set in. “Then it all seemed to go away,” says one former Stanford employee. Concerns over jurisdiction stayed the SEC’s hand for almost 4... More »

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SEC • Ponzi scheme • Financial Industry Regulatory Authority • Stanford Financial Group • Robert Allen Stanford • Securities and Exchange Commission

INTERVIEW

Tearful Stanford 'Madder Than Hell' at Ponzi Charges

Tycoon expects indictment in 2 weeks

Apr 6, 09 4:00 PM CDT
(Newser) - Sir Robert Allen Stanford expects an indictment from the feds in a couple of weeks, but maintained his innocence in an interview with ABC News. The disgraced financier cried and told his interlocutor, “I will punch you in the mouth” if he mentioned reports that Stanford laundered drug money.... More »

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crime • drug trafficking • money laundering • Ponzi scheme • federal indictment • bank scandal • interview • Stanford Financial Group • Robert Allen Stanford

Madoff, Stanford Victims Can Get Break From IRS

Taxpayers may deduct up to 95% of Ponzi losses: commissioner

Mar 17, 09 12:35 PM CDT
(Newser) - Victims of Ponzi schemes—including those perpetrated by Bernard Madoff and R. Allen Stanford—can claim big deductions on their taxes, the IRA commissioner told lawmakers today. The matter, unclear in the tax code, had been a concern for victims, the New York Times reports. The IRS “is issuing... More »

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taxes • IRS • Ponzi scheme • tax policy • Bernard Madoff • Robert Allen Stanford

Stanford Scam Leaves Artist Without Gold
for Show

$3.3M of bullion for Burden frozen by feds

Mar 5, 09 9:00 AM CST
(Newser) - The US government’s ongoing investigation into Allen Stanford has ensnared an unlikely victim: the Gagosian Gallery in Beverly Hills. Artist Chris Burden was to open an exhibition featuring 220 pounds of solid gold, worth $3.3 million, that the gallery purchased for him. But the company they bought it... More »

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art • Stanford Financial Group • Robert Allen Stanford • Gagosian • Chris Burden

(AP) - A federal judge ruled today that thousands of investor accounts with R. Allen Stanford's financial companies will remain frozen for another 10 days, while a court-appointed receiver said he's developing a plan to return some of the money to its owners. Stanford's companies have been in receivership since the Securities... More »

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Ponzi scheme • federal judges • bank fraud • receivership • Stanford Financial Group • Robert Allen Stanford • frozen account

Feds: Stanford Ran Massive Ponzi Scheme

Chief investment officer freed on 300K bond after night in jail

Feb 28, 09 6:22 AM CST
(Newser) - Federal officials have labeled shamed financier R. Allen Stanford’s operation a Ponzi scheme for the first time, the Houston Chronicle reports. The accusation—meaning the company used cash from new investors to pay older ones—came in an amended civil fraud complaint from the SEC yesterday alleging Stanford and... More »

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Ponzi scheme • securities fraud • federal prosecution • Stanford Financial Group • Robert Allen Stanford • Laura Pendergest-Holt

(Newser) - Laura Pendergest-Holt, the chief investment officer for disgraced financier Robert Allen Stanford’s firm, is being held on $300,000 bail, the Houston Chronicle reports. Her family is attempting to come up with the $30,000 cash necessary to free her. Holt spent last night in prison after being accused... More »

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arrest • bail • bank fraud • federal prosecution • Stanford Financial Group • Robert Allen Stanford • Laura Pendergest-Holt

1 - 20 of 39 Stories | 1 2 Next >>


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