Allen Stanford

Political groups and politicians have not returned more than $1.8 million in tainted campaign donations received from entities and individuals linked to the alleged Allen Stanford Ponzi scheme, according to the court-appointed receiver in the civil case against Stanford.
Ralph Janvey, the receiver, said only $87,800 had been returned by politicians. Letters requesting the money be [...]

EDITOR’S NOTE: There is a link at the bottom of this story to a report filed by Burton Wiand, the receiver in the Arthur Nadel Ponzi case in Sarasota, Fla. We encourage readers to read the document in its entirety. The Nadel case is not yet a year old. Nadel, who turned 77 today and [...]

The Justice Department has opened a probe into the political donations of R. Allen Stanford, according to the Miami Herald.
Stanford is jailed in Texas amid allegations he presided over a $7 billion Ponzi scheme on the Caribbean island nation of Antigua.
Among the first names to surface were the names of the National Republican Congressional  Committee [...]

Eight U.S. Senators have introduced a resolution calling for banking sanctions against the Caribbean island nation of Antigua for stonewalling in the Ponzi scheme investigation of Allen Stanford.
The senators said Stanford might have lent the Antigua government “at least” $85 million before the alleged scheme collapsed earlier this year and that the money “presumably came [...]

As the FBI and IRS executed search warrants at the Florida office of attorney Scott Rothstein this morning amid allegations he ran a covert Ponzi scheme that could have drained as much as $500 million from investors, prosecutors up north were concentrating on arresting lawyers in a separate case involving insider trading on Wall Street.
U.S. [...]

UPDATED 5:09 P.M. EDT (U.S.A.) AdViewGlobal (AVG), a surf site with close ties to AdSurfDaily, reportedly has lost its banking privileges.
The event occurred as AVG was running a 200-percent, matching-bonus program. The news is not posted on AVG’s main webpage. It is posted on a forum some of the Mods and members of the Pro-ASD [...]

The Obama administration said today that it will crack down on international tax cheats and people using tax havens to evade U.S. regulators.
In testimony before the House Ways and Means Committee, Treasury Secretary Tim Geithner said Obama will propose new rules to curtail international scheming.
“The budget also seeks to close the ‘tax gap’ by tackling [...]

When the Securities and Exchange Commission charged R. Allen Stanford Feb. 17 with operating a multibillion-dollar fraud scheme through his bank in Antigua, the news created banking pandemonium on the tiny Caribbean island and also in Panama.
In the days that followed, a surf known as BizAdSplash referenced the banking situation in Panama without referencing Stanford [...]

Hats off to Houston Chronicle writer Loren Steffy, who explained economically why cons work.
A con, Steffy explained, works because the con weaves “a tapestry of believable lies.” It’s a pointed, short, highly memorable line that deserves special mention because it puts readers “right there.”
Steffy detailed some of disgraced financier Allen Stanford’s lies in this column. [...]

UPDATED 10:21 A.M. EST (U.S.A.) Tomorrow will mark an important anniversary in the AdSurfDaily Ponzi case: the passage of two full months since prosecutors filed a second forfeiture complaint against assets tied to the firm.
Neither ASD President Andy Bowdoin nor members of his family from whom property was seized has filed a claim. No attorney [...]