ALLEN STANFORD, A BUDDY FOR BERNIE MADOFF

This guy had been watched by the SEC for the past ten years even though his Caribbean banks for years were a major launderer of drug money and being off-shore tax havens. Sir Allen, as he is known (three years back he was knighted by a Caribbean banana republic, Antigua) has joined good old Bernie as a scam artist par excellence, who took his followers to the cleaners for $8 billion and rising. Unlike Bernie, who just sat back and operated a simple Ponzi scheme, Sir Allen’s empire was built in the main outside of America, by owning rogue banks in countries governed in the main by thinly educated, local and colorful identities. Even Chavez of Venezuela was sucked in by his charm. At this point investigations show few of his victims are Americans, but nevertheless, it was the credibility he had from his beginnings here that allowed him to enjoy such global success.

With his empire in tatters, Sir Allen is presenty holed up in the Virginia home of one of his girlfriend’s awaiting his fate. I suppose just like Bernie, he will be confined to one of his many mansions while the authorities sort out the charges he will face. It sickens me that this scumbag crook who has raped and pillaged over 50,000 people can continue to lead the life of Riley maybe for many years to come while awaiting criminal charges. Compare this to what Bruce McCaffrey, formerly of Qantas, has had to endure. Bruce is about to start his six month holiday in the Big House for being an at-will employee of Qantas fingered as being responsible for colluding on fuel surcharges. McCaffrey profited not one cent from his so-called illegal behavior, but because of ill health and the lack of enough personal funds to defend himself, he pleaded guilty to get it over and done with. Where is there justice?

Tags: Allen Stanford, Bernie Madoff, Bruce McCaffrey, ponzi, Quantas, SEC, Venezuela