Texas Billionaire Stanford Indicted in Massive US Fraud Case

Texas Billionaire Stanford Indicted in Massive US Fraud Case

www.reuters.com

RICHMOND, Virginia (Reuters) - Texas billionaire Allen Stanford, three associates and a top Caribbean regulator were indicted on fraud, conspiracy and obstruction charges in an elaborate $7 billion pyramid scheme to bilk investors, U.S. Justice Department officials said on Friday.

A federal judge in Virginia ordered Stanford, a flamboyant 59-year-old financier, to be transferred to Houston for a hearing on whether he should be granted bail on charges he orchestrated the fraud through his bank

(visit the link for the full news article)

Well heres another a-hole that is gonna get slammed around in court and blame pointed at him for the state of the economy. I am glad they are prosecuting this guy but he is a small fish. The real criminals are on wall street and in the federal reserve. The banksters need to be held accountable for what they have done to this country and the world as we the US are the center of it all...

www.reuters.com
(visit the link for the full news article)

Surprise surprise, it looks like my mattress heavy portfolio is paying off.

The OP article was missing a line:

"And the SEC had no idea what so ever".

Shame he got arrested. His cricket tournament was good fun.

When I read the title I thought I was about to see a picture of GWB in handcuffs.