Allen Stanford

EDITOR’S NOTE: In a story dated today, BehindMLM.com has broken down claims made in a recent video in which Better-Living Global Marketing (BLGM) figure Luke Teng appears. The potential criminality at BLGM, purportedly based in Hong Kong, not only is alarming, it is stunning. Even more disconcerting is the level of disconnect surrounding the scheme, […]

BULLETIN: With the MLM world only now coming to grips with the alleged $1.2 billion TelexFree Ponzi- and pyramid fraud, the special master in the Zeek Rewards criminal action has compared the Zeek case to the Bernard Madoff and Allen Stanford Ponzi schemes and the notorious Enron securities swindle involving former CEO Jeffrey Skilling. Special […]

Robert Allen Stanford, once listed by Forbes magazine as one of the richest men in the United States, has been found guilty in a Texas federal court on charges he operated one of the most epic Ponzi frauds in U.S. history. Stanford, 61, was found guilty on 13 of 14 criminal counts filed against him. […]

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 […]

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 […]

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 […]

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. […]

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 […]

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’ […]

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 […]