Stanford under drug investigation

[Robbien]

Source: ABC

HOUSTON -- The SEC's fraud charges may be the least of accused financial scammer R. Allen Stanford's worries. Federal authorities tell ABC News that the FBI and others have been investigating whether Stanford was involved in laundering drug money for Mexico's notorious Gulf Cartel.

Authorities tell ABC News that as part of the investigation, which has been ongoing since last year, Mexican authorities detained one of Stanford's private planes. According to officials, checks found inside the plane were believed to be connected to the Gulf cartel, reputed to be Mexico's most violent gang. Authorities say Stanford could potentially face criminal charges of money laundering and bribery of foreign officials.

Authorities say the SEC action against Stanford Tuesday may have complicated the federal drug investigation.

Read more: http://abclocal.go.com/ktrk/story?section=news/national_world&id=6666660

---

From the TimesonLine about Stanford Offshore Banking

Speaking this morning Mr Robinson said that the Stanford case could have "huge ramifications" for the world of offshore banking and could be as significant as the Bernard Madoff scandal.

"I know, personally - because I have discussed it with them - a number of law enforcement agencies in the United States, plus a number of prosecutors who have been looking at Mr Stanford for the past 15 years," he told BBC Radio 4’s Today programme. "He has been on everybody’s radar for a number of things."

Some people involved in the offshore industry would be keen for Mr Stanford to remain silent about his Antiguan-based banking empire, he added.

"What’s going to happen now is they will ask to talk to him. If he doesn’t appear, I suspect an arrest warrant will be issued by the FBI on criminal charges," he said.

"If he does, he’s got a real problem because he knows an awful lot. And I would suspect there are a number of people, very heavyweight people, throughout the offshore world and in other jurisdictions who really don’t want to be associated with Mr Stanford and are not going to be pleased if he talks. So this man has a very, very serious problem."

http://www.timesonline.co.uk/tol/news/world/us_and_americas/article5765481.ece

and Huffington is reporting

Allen Stanford Owes Over $200 Million In Federal Taxes
DANIEL WAGNER | February 18, 2009

WASHINGTON — Public records show disgraced financier R. Allen Stanford owes hundreds of millions of dollars in federal taxes.

The records show four federal tax liens against Stanford totaling more than $212 million. The liens are from 2007 and 2008

http://www.huffingtonpost.com/2009/02/18/allen-stanford-owes-over-_n_168067.html

[LeftishBrit]

1. I clicked because I thought it would be about Stanford University!

As I know a few people connected with that university, I'm glad it's not!

[Robbien]

3. For the next couple of weeks when you see the word Stanford

they will more than likely be talking about the Ponzi artist.

"Sir" Allen Stanford tried to claim a relationship with Stanford University but Stanford University sued "Sir" Allen to make him stop his claims.

[Uben]

2. Another scam artist goes down

He'll be looking over his shoulder the rest of his life, if he lives long. When you screw the rich out of their money, there are those who would spend a little more to make sure you never do it again. I wouldn't give you a dime for his life right now. He has the government of the U.S and who knows who else looking for him. People who live the high life are easier to find than someone who doesn't spend money because they leave a trail.

My guess is he is lying in some hospital somewhere recovering from his recent cosmetic surgery to conceal his identity. Look for a dead cosmetic surgeon if you want to find him!

[CanonRay]

4. If they can't get their money, he's facing a lot worst than just charges!

[Soylent Brice]

5. and that's it. if they ever find him

it'll be in a ditch somewhere bound, gagged, and beaten by the cartel to keep his silence... or he'll be living it up with the cartel somewhere doing the same thing for them.

K&R

[madmom]

6. It seems to me, if all these a**holes would pay their taxes, our

country wouldn't be in such dire straits. Think about it this one guy owes "hundreds of millions in federal taxes" , couple this with the others and we'd be doing alright.

[Hestia]

7. Read Mad Cow Productions

http://madcowprod.com - he's been writing of this for years! This goes way beyond one person - he's is the scapegoat while the real criminals run away.

[FarCenter]

8. The SEC investigation was probably being stalled by the DEA

or some other three-letter agency.

In return for valuable cooperation with Homeland Security.

http://www.nytimes.com/2009/02/18/business/18stanford.html?_r=1

The current S.E.C. charges stem from an inquiry opened in October 2006 after a routine exam of Stanford Group, according to Stephen J. Korotash, an associate regional director of enforcement with the agency’s Fort Worth office. He said the S.E.C. “stood down” on its investigation at the time at the request of another federal agency, which he declined to name, but resumed the inquiry in December 2008.

[formercia]

9. This operation has direct ties to Malta

This goes to the heart of the beast.

This is going to be a real can of worms. :rofl:

[Qutzupalotl]

11. What else in Malta are you referring to?

:shrug:

[emad]

10. Now for that pesky Mexican connection: FBI inquiry links Stanford to Mexican cocaine cartel

FBI inquiry links Stanford to Mexican cocaine cartel


Paul Thompson in Miami

FINANCIER Sir Allen Stanford is under investigation by the FBI over money laundering for a notorious drugs cartel, it was revealed today.

He has been linked to the Mexico Gulf group, one of the most violent involved in smuggling cocaine into the US.

Investigative sources told ABC TV last night that Mexican authorities had seized one of Sir Allen's private jets as part of an inquiry into the cartel's activities. Inside the cabin of the Gulfstream jet police found cheques connected to it.

As part of the cross-border fight to stem the tide of drugs into the US the FBI became involved.

Authorities say Sir Allen, who is accused of a $8billion fraud, could face criminal charges over money laundering and bribery. His Stanford International Bank - at the centre of the fraud allegations - has offices in Mexico and South America.

http://www.thisislondon.co.uk/standard/article-23646716-details/FBI+inquiry+links+Stanford+to+Mexican+cocaine+cartel/article.do