Allen Stanford Arrested and Charged with Fraud

[fredfertang]

Lawyers the world over tend to dislike working for nothing especially for large corporate clients - unpaid lawyers (rats you might say) do tend to jump ship - it means their clients are either unable or unwilling to pay their fees - not, necessarily, that they are guilty or have professionally embarrassed their lawyers

 

[sirdj]

Lawyers the world over tend to dislike working for nothing especially for large corporate clients - unpaid lawyers (rats you might say) do tend to jump ship - it means their clients are either unable or unwilling to pay their fees - not, necessarily, that they are guilty or have professionally embarrassed their lawyers

So Stanford's lawyers are leaving because Stanford can't pay them?? One thing you can be damn sure of is that Stanford will pay the big bucks to be properly represented. Surely there must be other reasons why his lawyers quit.

You forget to mention lawyers don't like representing clients when they know they could lose big time.............not very good for their reputations.

 

[zaremba]

BTW Its not some keystone cop accusing him of anything, its the SEC. Its not an ordinary person being accused. Its an extremely wealthy douchebag with a lot of influence in a lot of wealthy countries with a lot of top politicians...
this is not an ordinary person being "falsely accused" as you say. This is a super rich bastard

So to summarise your position:
(1) an accusation by the SEC equals guilty
(2) rich equals guilty

Very much like Cambodia circa 1977 or Stalin's Russia. I imagine you find that living in a liberal democracy such as Australia offends against your principles. Good for you.

Is that really true?? Does this sense of fairness extend to other forms of crime too?? Would you keep an open mind about killers, rapists and child molesters as well?? Untill they have been found guilty after a fair trial? Would you let your child interact with an alleged molester if he has not yet been tried or accused? or do you have different yardsticks for different crimes?

Yes this sense of fairness does extend to other crimes. I don't assume that anyone is guilty until they're proven to be guilty. The crime they're charged with makes no difference at all. If anything, the more serious the crime, the more evidence I'd want to be produced before someone ought to be convicted of it.

 

[zaremba]

lawyers don't like representing clients when they know they could lose big time.............not very good for their reputations.

My word, you really do know a lot about lawyers don't you? The Stanford trial would be the career high-point of whatever lawyer represented him, win or lose.

Ever heard of Jacques Verges? Google him.

 

[Uppercut]

My word, you really do know a lot about lawyers don't you? The Stanford trial would be the career high-point of whatever lawyer represented him, win or lose.

My thoughts exactly- so things must be really bad for Stanford if his lawyer's doing a runner.

 

[roseboy64]

Mohammed: US$1m prize safe in T&T
Carolyn Kissoon South Bureau
Saturday, February 21st 2009


West Indies spinner and Stanford Twenty/20 Superstar player Dave Mohammed yesterday says his US$1 million winnings are safe.

The money is in a local bank, he said, and safe.

Stanford's assets have been frozen and he is under investigation for fraud amounting to US$8 billion.

The United Kingdom media reported Thursday that five of the West Indies team, who each collected $1 million for copping the 2008 Stanford Twenty/20 tournament, were persuaded to reinvest the money with Stanford and now risk losing it all.

Named were Mohammed, Keiron Pollard, Sylvester Joseph, Shivnarine Chanderpaul, and Ramnaresh Sarwan.

But reached at his home near Princes Town yesterday, Mohammed said:

"I did not invest my money in any of the Stanford financial institutions. I did not lose anything and that report is not true."

Mohammed was not picked to play against the England cricketers touring the Caribbean. He is playing local cricket with PowerGen Sports Club.

Stanford, a Texan billionaire, has been served with legal papers in a multi-billion-dollar fraud case. Stanford and three of his companies are accused of committing a US$8 billion fraud that lured investors with promises of improbable and unsubstantiated high returns on certificates of deposit and other investments.

Mohammed said of the media reports, "I don't know where they got that information. I was never interested in investing my money overseas and no one could persuade me in doing that. I cannot say whether any of the other players have invested their money. Maybe some of them did invest their money, but it was not me," Mohammed said.

From a T&T newspaper.

 

[Kweek]

aahw where is bennett when you need him.

 

[roseboy64]

Same for Chanderpaul as well. No idea bout Sarwan, Joseph and Pollard.

 

[Craig]

Looks like Dave Mohammed did the right thing.

 

[Uppercut]

KP has labelled Stanford a "sleazebag". Kevin Pietersen- says what we're all thinking.

 

[four_or_six]

KP says he thought Stanford was a sleazebag all along, and yet at the same time he was signing up as a brand ambassador for him. Slightly confusing.

Cricinfo - I was always uneasy with Stanford deal - Pietersen

 

[Fusion]

Scott Eyre is the latest ballplayer to admit he's almost broke - Big League... - MLB - Yahoo! Sports


Tue Feb 24, 2009 1:51 pm EST

Scott Eyre is the latest ballplayer to admit he's almost broke
By 'Duk
Never thought we'd see a day when a pro ballplayer might take to selling apples or asking a fan to spare a dime, but thanks to the ongoing fraud schemes those farfetched scenes could become a reality this spring.

On Monday, Phillies reliever Scott Eyre became the latest MLB player to admit he's in a bit of a financial bind, telling MLB.com's Todd Zolecki that his assets are currently frozen due to the ongoing investigation into the Stanford Financial fraud case.
Just how bad is it? Well, because of the court-ordered freeze, Eyre says he's "broke right now" and that he has "$13 in my wallet." This after the lefty signed a one-year deal worth $2 million in the offseason.

From MLB.com:

"I can't pay my bills right now," Eyre said. "My wife just wrote all these checks to pay bills, and they're all going to bounce. If it takes a week or two to get my money back, I'm going to have to ask my teammates for some money. Seriously, I'm going to have to ask them that. I can't get any money out."

Eyre has another account not affiliated with Stanford, but he said that account doesn't have enough to handle living expenses — including mortgage, bills, etc. — on a long-term basis.

"We'll get our money back eventually," Eyre said. "They caught ours so early that they think we'll only lose the interest. Supposedly, the money is insured. But it's all a scheme, so who knows if that's real insurance or not?

Though some accounts may start to be unfrozen, the situation is the talk of clubhouses across Arizona and Florida. Both Johnny Damon and Xavier Nady of the Yankees have already said they've been affected and Mets pitcher Mike Pelfrey says "99 percent" of his cash is stuck. Meanwhile, other sport stars like soccer's Michael Owen and golf's Vijay Singh have been mentioned as victims of Stanford's farflung Ponzi scheme.

As for Eyre, the 36-year-old family man says he's thinking about 2009 being his last year in the game, although more financial uncertainty could change that.

While I know we're talking about someone who's already made more money that many of us could ever dream of, it's hard not to have sympathy for what these guys are going through and hope for a quick and easy solution for them. Simply put, you wouldn't wish this situation on the most hated player from your most hated rival. Godspeed, gentlemen.

 

[Precambrian]

Who knighted him?

 

[Precambrian]

KP says he thought Stanford was a sleazebag all along, and yet at the same time he was signing up as a brand ambassador for him. Slightly confusing.

Cricinfo - I was always uneasy with Stanford deal - Pietersen

What a crock****.

 

[albo97056]

The guy must be an idiot. He's been in the game for years, must have made a mint, yet he only has 1 account of note. Eggs in one basket anyone?

Shame because he did real well last year for us though.

 

[sirdj]

Who knighted him?

An Antiguan politician he had in his pocket. They did not even follow due process in the hurry to knight him. Had the done all the proper background checks they would have have known he is a sleazo.

 

[TT Boy]

ABC interview with Stanford

 

[TT Boy]

Stanford a US drug informer?

 

[sirdj]

Sleazeball indicted in massive fraud case.

Stanford indicted in massive U.S. fraud case | U.S. | Reuters

now where are the guys who were defending him in this thread?

 

[fredfertang]

For my part what I was/am seeking to defend is Stanford's right to a fair trial - the mere fact he has been indicted proves nothing