Posts Tagged ‘stanford international bank’

Allen Stanford has charged with fraud in the USA. The
Texan billionaire and incorrigible flirt has had his offices raided by US Marshalls (Tommy Lee Jones and Robert Downey Jr sadly not amongst them). This, unsurpisingly, has led the ECB to suspend talks with Stanford over future joint projects.

The alleged fraud is said to be related to “misrepresenting the safety and liquidity” of Certificates of Deposit sold by Stanford International Bank.

It has been rumoured for some time that Stanford was looking to scale back his involvement in cricket, but few can have forseen such a dramatic development. The WICB, mired as it already is in bad publicity, could certainly have done without this additional headache – Stanford in effect bankrolls their domestic Twenty20 competition.

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