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**Pellucid** » 2012-01-27 10:41

TV Revenues? Seriously? Those may have been able to make enough to offset some of Sir Allen's other business losses, but make the whole pile of Knightsoil profitable? Not a chance!

**Skyewill** » 2012-01-27 01:31

stanford created a marketing stratedgy that was certainly different and maybe you would not understand those twin clubs and 20/20 needed to look rich and they were. did you not hear me TV revenues! His problem is he is personally responsible because of the business model and Lehman Brothers simply went out of business and all those Mortgage paper losses.

**Camp Zone** » 2012-01-26 22:39

The Feds was after him for a long time for other things which would be hear of later, Stanford is his own down fall he was making the money but he was not living up to is expection, of his clients

**Hard Assets?** » 2012-01-26 21:09

Skyewill, do a little math and put the best value on all the "Hard Assets" you speak of plus $100Million found in Europe plus at best $200Million found in the US and see what the total you would get. If you get $700Million in total then that's 10 cents per dollar for the depositors. I'm pretty sure that's not how Banks work.

**Pellucid** » 2012-01-26 20:12

People from the US to Venezuela flew to Antigua to try to collect their money, which SIB was not able to produce. I can only assume you're quibbling with my charactarizatio n of this phenomenon as a run because the victims flew. Fine, there was a fly on SIB which happened before any SEC action. Have it your way.

**Skyewill** » 2012-01-26 19:44

No comparison my friend. stanford owned the companies. he was not the GM but the owner and sole shareholder. His methodology was weid but not criminal. The investments were there and hard assets were there. The plan was to create money making entites with the investments that would provide high returns for investors. I m not saying he is innocent cause I don't know but. His idea for guyanna Island would have been something that would have rivaled any resort in the world. His 20/20 cricket investment was well on the way to bring in Billions in TV revenues. he is a brilliant man and he work hard. i wish him well no matter what the outcome

**Antiguan Abroad** » 2012-01-26 17:32

Pellucid - Perhaps English is a secondary language for you, since that would be the only reasonable explanation as to why my simple posts appear confusing to you. Try looking up the legal definition of a "run" on a bank.......The article by Dalmady might have raised questions in certain quarters of Latin and South America and might have caused some sizeable withdrawals, but it did not rise to the level of a run. That happened when there were widespread reports in February 2009 that Stanford was under active investigation by the SEC. I don't even know why you consider it a debatable issue since everyone close to the prosecution and defense of Stanford appear to accept it as settled fact.

In your list of Stanford assets that were frozen and later returned to investors, you failed to mention that all of Stanford's other assets outside of SFG (including companies and personal effects) have been liquidated or are in the process of being liquidated. The assets that you mention (like gold or T-bills held in trust for his clients) were not his assets to dispose of in the first place, and therefore fell outside the jurisdiction of the receiver.

**Pellucid** » 2012-01-26 15:49

The run wasn't my "idea", it was an actual event, an event that happened BEFORE the SEC took action, so unless you don't believe in liniar time, what you said makes no sense.

As for the freeze on all SFG (US) accounts when SIB (Antigua) was defaulting on its obligations, as I wrote before, except for Antiguan CDs EVERYTHING HAS BEEN RETURNED TO THE INVESTORS. Every share of stock, every municipal bond, every ounce of gold every cent of cash. Only those who held SIB Antigua CDs have been defrauded, but the SEC locked down everything for a month or so until it was established that only the Antiguan "bank" was a fraud.

**Antiguan Abroad** » 2012-01-26 14:39

Pellucid - You just (perhaps unwittingly) proved my main point....when a part of Stanford's empire related to his Antigua bank was under investigation, the SEC applied to the court for seizure of ALL of his assets, personal and business, irrespective of whether or not it was tainted by the alleged fraud. On the other hand, it appears the Antiguan authorities decided to pick and choose which of his assets would be frozen and/or liquidated.

Regarding your idea of when the "run" began, I still maintain that it was the actions of the SEC that precipitated a widespread run on Stanford's banks. In fact, Stanford himself has stated as much in a number of his public statements and in his filings with the court.

**Skyewill** » 2012-01-26 14:28

So so true. The man say he go pay you Sunday midnight and sSunday Midnight you got your check. He helped a lot of people. Right now he is supossed to be a friend in need but it don't seem like he got any friends. I don't know Of all the things he is accused of but I do know that none of us are worthly to say we are better. say a prayer for him.

**Not his Money** » 2012-01-26 13:30

Also, do you see ACB, RBC, Scotia etc GM's and Shareholders flying around in Jets, giving out US$20Million prizes in cricket games, owing yachts all paid for with customer's money?

**Not his Money** » 2012-01-26 13:25

No Banks don't sit and watch the money....they invest it but fully disclose what they invest in and the returns made on those investments. If ScotiaBank folds today they may have 500M in deposits which they have to pay back but they will also have assets to be disposed which can pay back all or most of those deposits. Those assets would be loans granted etc. Stanford folded with $7Billion in Deposits owed but much less than even $1Billion in assets if you sell everything including the bats on Sticky Wicket.

**just wondering** » 2012-01-26 12:07

Do banks normally put depositors money in a safe and sit and watch it? I am not to bright but i always thought they lend me someone else money and the cycle goes on.So why mention that it was not his money he spent,as long as the people get what theirs when the time comes. I am not saying he is innocent,i dont know if he,s guilty either,but saying he was spending other people money is a weak point.

**Proud ANU Queen** » 2012-01-26 11:49

Carva,

I couldn't agree with you more. Man's nature is to be disloyal in times of trouble; they tend to turn their back on their friends the minute things go awry. They "wined and dined" with the man, and he hasn't even been found guilty yet, but they're all pointing the finger at him and disassociating themselves. What ever happened to the phrase "A Friend in Need is a Friend Indeed?" I guess in Stanford's case this one is more apropo: "When Days are Dark, Friends are Few."

**Pellucid** » 2012-01-26 11:44

AA, actuly it was the other way around, the run began with the publishing of Duck Tails by Alex Dalmady, and SIB's failure to make a required VC capital contribution to one of Sir Allens "investments". It was the South American investors that panicked first, leading to the run, which triggered the SECs action.

One could speculate that since SFG (the broker) only had about 30% of its customers money invested in Antiguan CDs (remember, all of Stanford's other customers got their stocks, bonds, precious metals and cash back after the freeze was lifted) that SFG could have survived we're it not for it's unfortunate name, which is forever associated with SIB Antigua.

**Not his Money** » 2012-01-26 10:07

For 20 years people had no problem with Stanford because he gave the impression that he was spending HIS money. But it turns out that he was actually spending OTHER people's money.....and not all were millionaires the same way not all Antiguans who invested in British American were not millionaires. At least with Dupree (should be jailed too) there is a trail of the money and the losses can be verified. Stanford simply took the money that came in, allegedly spent it as he liked and doctored the books to hide the trail with the help of his xxx as the CFO CONFESSED!

**Antiguan Abroad** » 2012-01-26 09:51

Pellucid - Your argument is a bit disingenuous. The day the SEC took action against Stanford in Houston in 2009, there was a "run" on his banks worldwide, and it affected all of his former depositors. The proper action under the circumstances at the time was to put SIB into receivership or liquidation.... .so the Antiguan government got this part right. My only concern is that they should have put ALL of Stanford assets into liquidation, not just the bank.

**lethal.** » 2012-01-26 09:15

mr. errol cort when stanford ship was sailing on the high seas you enjoyed the luxury and all the easy oney. now the ship run aground you are no where to be found. you hear the man a complain about the peanut **er meals, his health and no money in his commisary, and you wouldnt even fart on the man. mr cort is not all the days your ship shall sail. i hope when it runs aground and you have to deal with reality, you can handle it. God nar sleep.

**Memory Loss** » 2012-01-26 08:17

It seems that the memory loss strategy was a good one. Can you have a defense which says that $EC20,000,000,0 00.00 in assets are there in one breath and then say that is was your accountant that did it in the next?

**Flunky** » 2012-01-26 07:43

would the lawyer who got tons of money from Stanford have to give evidence?

**carvaa** » 2012-01-26 04:37

Here we have these millionaires wanting to get richer, but in a quick way so instead of finding a well known bank in there own country they pick out a little island in the caribbean, where most of them never even visit before and find this great bank to invest all there money. The world knew of his life style from his many donation to charity, U.S election endorsement, TV, newspaper, an American who never held a cricket bat in his life brought the most exciting cricket game to the world 20/20 and never hid the many millions spent, at each game we saw Prime ministers from across the caribbean sitting in the Stanford box, he got the approvement to operate an Airline company not only to the British caribbean but to Puerto Rico and the Virgin islands both U.S territory, he was in and out the U.S everyday and sat with many of these congress men and women, every golfer awaits the Stanford St.Judes golf tournament each year. with that said none of these investors had any question or problem with his life style and the many millions spent.

**Pellucid** » 2012-01-26 02:49

It was Antigua which shut SIB, (and appointed Vantis to bury the bodies) the US only had control over the US brokerage, which only sold about 15% of the Antiguan CDs.

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