Offshore banking experts say that the fraud charges this week against accused financial scammer R. Allen Stanford have been a long time coming.
"There's no surprise at all," said Washington lawyer and IRS consultant Jack Blum. "This man has been on law enforcement's radar screen for the better part of 10 years."
But the SEC didn't move forward until this week, after two former Stanford Financial whistleblowers filed an alleged lawsuit, which revealed how the bank lied about too-good-to-be-true certificates of deposit.
"The problem was the published returns that many advisors use to present to clients and prospects," said former Stanford Group employee Mark Tidwell, "that now we knew that information was incorrect."
The federal investigation, however, did not stop Stanford from using corporate money to become a big man at last year's Democratic convention in Denver.(LINK)Howard Dean? Paging Dr. Dean? How far up the Dem tree did he go, anyway? Inquiring minds want to know!
It's kinda interesting as to just
what this guy was financing, don't 'cha think?
