The Conservative Cave

Current Events => Economics => Topic started by: Chris on February 17, 2009, 12:38:34 PM

Title: US tycoon charged over $8bn fraud
Post by: Chris on February 17, 2009, 12:38:34 PM

US tycoon charged over $8bn fraud (http://news.bbc.co.uk/2/hi/americas/7895505.stm)

Texan billionaire and cricket promoter Sir Allen Stanford has been charged over a $8bn (£5.6bn) investment fraud, US financial regulators say.

The Securities and Exchange Commission said the businessman, had orchestrated "a fraudulent, multi-billion dollar investment scheme".

The SEC said the fraud was "based on false promises and fabricated historical return data".

A US judge has also frozen the assets of Sir Allen and the other defendants as well as those of the Antigua-based Stanford International Bank (SIB), the Texas-based investment firm Stanford Group and investment advisor Stanford Capital Management.


(more...) (http://news.bbc.co.uk/2/hi/americas/7895505.stm)

Title: Re: US tycoon charged over $8bn fraud
Post by: Chris_ on February 17, 2009, 01:58:57 PM

Rats.

I was hoping it was a certain moonbat Oklahoma billionaire tycoon.

Title: Re: US tycoon charged over $8bn fraud
Post by: Chris on February 17, 2009, 03:50:44 PM

Quote from: DefiantSix on February 17, 2009, 01:58:57 PM

Rats.

I was hoping it was a certain moonbat Oklahoma billionaire tycoon.

Whodat? :confused:

Title: Re: US tycoon charged over $8bn fraud
Post by: Chris_ on February 17, 2009, 03:54:50 PM

Quote from: Chris on February 17, 2009, 03:50:44 PM

Whodat? :confused:

T. Boone PickPockets.  Born in Holdenville, OK.