Event

Stanford International Bank fraud

Collapse of Allen Stanford’s companies in 2009, after the SEC’s Fort Worth office had examined them four times between 1997 and 2004.

5 links, 5 backed by primary records

Connections 5

Allen Stanford convicted by a jury on 6 March 2012; sentenced to 110 years Primary record 1
U.S. Securities and Exchange Commission its Fort Worth office examined Stanford’s firms in 1997, 1998, 2002 and 2004 According to SEC Office of Inspector General Primary record 2
U.S. Securities and Exchange Commission filed an emergency civil action in February 2009 to halt sales of Stanford’s certificates of deposit Primary record 2
U.S. District Court for the Southern District of Texas tried Stanford and sentenced him in Houston Primary record 1

Timeline 1 date

Proof 2 sources

Allen Stanford Sentenced to 110 Years in Prison for Orchestrating $7 Billion Investment Fraud Scheme (press release), U.S. Department of Justice, Office of Public Affairs, 14 Jun 2012. Primary record Archived copy
On March 6, 2012, Stanford, 62, was convicted on 13 of 14 counts by a federal jury following a six-week trial
was sentenced today in Houston to a total of 110 years in prison
Oversight of the SEC Inspector General’s Report on the “Investigation of the SEC’s Response to Concerns Regarding Robert Allen Stanford’s Alleged Ponzi Scheme” and Improving SEC Performance (Senate hearing, S. Hrg. 111-818), U.S. Senate, Committee on Banking, Housing, and Urban Affairs (via the Government Publishing Office), 22 Sep 2010. Primary record
Fort Worth examiners conducted examinations of Stanford in 1997, 1998, 2002, and 2004, concluding in each instance that Stanford’s CDs were likely a Ponzi or similar scheme.
In February 2009, the SEC filed an emergency civil action to halt sales of Stanford Certificates of Deposit (CDs) and seek the return of funds to harmed investors.
On March 31, 2010, we issued to the Chairman of the SEC a comprehensive report of our investigation in the Stanford matter

Page history 1 change