By the way: " Have you seen Stanford lately?"

FBI finds Allen Stanford in Virginia
Thu Feb 19, 2009


Stanford whereabouts unknown after charges: SEC

WASHINGTON (Reuters) - Federal regulators said on Wednesday they do not know the whereabouts of billionaire Texas banker Allen Stanford, charged with "massive" international financial fraud, federal regulators said on Wednesday.
"We are unaware of his whereabouts," SEC spokeswoman Kimberly Garber said from Texas. Asked if Stanford may be outside the United States, she said, "Certainly that's a possibility but we don't know.

(Source Reuters) Stanford whereabouts unknown after charges: SEC
U.S. marshals assisting the SEC have been unable to serve Stanford with court orders freezing assets and appointing a receiver to run his Stanford Financial Group companies since a raid on his Houston headquarters Tuesday, Garber said.
The FBI is in communication with the SEC regarding the Stanford case, FBI spokeswoman Shauna Dunlap said. She gave no more details. "The FBI is certainly aware of the SEC investigation, and we have been in contact with the SEC," Dunlap said.
The SEC said in court papers disclosed Tuesday that Stanford had failed to appear in recent weeks for testimony ordered by subpoena.
CNBC reported that he had tried to hire a private jet to fly one-way to Antigua from Houston, but the jet lessor refused to take his credit card.

Stanford Support for sports includes:

* Stanford's own private Twenty20 cricket competition in the Caribbean, including a $20 million game in November between England and his own team made up of West Indian players.

* Endorsement relationships with Fijian golfer Vijay Singh and England soccer player Michael Owen.

* Host sponsor of the 2009 Sony Ericsson Open tennis event in Biscayne, Florida on March 23-April 5.

* Sponsors venues at the Houston Polo Club and International Polo Club in Palm Beach, and sponsors the Stanford Charity Polo Day at the Royal Military Academy Sandhurst in the UK.

* In golf, it sponsors the PGA Tour's Stanford St. Jude Championship in Memphis, Tennessee.

* Sponsors the Stanford Antigua Sailing Week


Allen Stanford is accused of a fraud (not a Ponzi scheme), a fraud which could turn out to be from the same magnitude as the Madoff fraud.
Late news: unconfirmed rumours about Stanford International Bank being involved with money laundering in the Caribbean and for Mexican drug cartels.

Stanford clients swarm banks
(01:45) Report Reuters Video
Feb. 18 - From Mexico City to Caracas, hundreds of depositors lined up to pull money out of Stanford affiliated banks.

Regulators said they don't know where Stanford is. Fred Katayama reports.From South to North America, hundreds of anxious depositors lined up. They're rushing to pull out their money from banks affiliated with the Texas billionaire accused of fraud. This after U.S. regulators charged Allen Stanford with a "massive" $8 billion dollar fraud.In Houston, Texas, investor Romina Sumpter stood outside Stanford's U.S. headquarters.(SOUNDBITE)(English) Romina Sumpter, investor, saying:"I pray I don't lose everything I invested because it is my inheritance, and it only happens once in a lifetime, and I'm sad to see Mr. Stanford is doing this."Venezuelan bank regulators said Venezuelans had invested billions of dollars in Stanford's bank branch on the island of Antigua.In Antigua's capital, St. Johns, the line stretched around the corner of the Bank of Antigua. More than 600 people waited even though authorities said the bank had sufficient reserves and is separate from Stanford's affiliate that faces U.S. charges.In Mexico City, the dozens who lined up were mostly middle-aged and elderly. Karyna Kleinckwort, a widow, had invested all of her money there. She said, "We don't know what's going on. We are really worried and desperate."Regulators said they don't know where Stanford is. Using his Antiguan affiliate, Stanford International Bank, he's accused of fraudulently selling certificates of deposits that boasted higher than normal yields. But the Stanford case is a lot smaller than that of the 50 billion dollar fraud allegedly carried out by money manager Bernard Madoff. And so far, no criminal charges have been filed. Fred Katayama, Reuters.