Allen Stanford, Bernie Madoff and Wally

by Manshu on May 20, 2009

in Articles

Is this art reflecting life or life reflecting art?

Dilbert; from a few days ago.

From the Times, a few weeks ago:

Allen Stanford, the billionaire cricket sponsor, lost money with the alleged $50 billion swindler Bernard Madoff but lied to his investors that he had not, say regulators.

The US Securities and Exchange Commission (SEC) lodged 25 pages of allegations with a court in Detroit yesterday, detailing a $9.2 billion fraud allegedly perpetrated by Mr Stanford and three companies he controls.

“Perhaps the most alarming is that Stanford Investment Bank has exposure to losses from the Madoff fraud scheme despite the bank’s public assurance to the contrary,” said the SEC.

{ 1 comment… read it below or add one }

Mikael @ Retire Rich Roadmap May 22, 2009 at 3:37 pm

What I find to be the most “frustrating” is that you don’t really know who to trust anymore. When even the “stars of the show” turns out to be crooks then you’ll never know…


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