Monday, March 2, 2009

What a Jerk...

Yes...I said it...jerk...If you watched the news lately, then you have heard of Robert Allen Stanford. Here's a small portion of an article from the Fox News website...

"The Securities and Exchange Commission today charged Robert Allen Stanford and three of his companies for orchestrating a fraudulent, multibillion-dollar investment scheme centering on an $8 billion CD program.

Stanford's headquarters, located in Houston's Galleria shopping and office district west of the city's downtown, were raided by law enforcement officials today. Law enforcement officials are probing the company’s stated CD returns, in which the company offered rates between 10.3% and 15.1% every year from 1995 through last year -- five or six times what banks in the U.S. offer."

The article can be read in its entirety here,
but be prepared to feel disgusted after finishing. Mr. Stanford stole money from hardworking people...money earned honestly and with dedication. His "people" heavily persuaded highly qualified financial investment firms to encourage their clients to purchase CDs from his institution with a promise of a high return while he lived lavishly off the interest. None of the money was EVER invested. How does this happen? I will never understand people who are willing to go after whatever they want no matter how much it will hurt those around them. Selfish jerk...

1 comment:

The Jones' said...

I just found out that he is the uncle of my friend's ex-husband! Crazy... the stories she just shared about his personal life are just as crazy and selfish.

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Monday, March 2, 2009

What a Jerk...

Yes...I said it...jerk...If you watched the news lately, then you have heard of Robert Allen Stanford. Here's a small portion of an article from the Fox News website...

"The Securities and Exchange Commission today charged Robert Allen Stanford and three of his companies for orchestrating a fraudulent, multibillion-dollar investment scheme centering on an $8 billion CD program.

Stanford's headquarters, located in Houston's Galleria shopping and office district west of the city's downtown, were raided by law enforcement officials today. Law enforcement officials are probing the company’s stated CD returns, in which the company offered rates between 10.3% and 15.1% every year from 1995 through last year -- five or six times what banks in the U.S. offer."

The article can be read in its entirety here,
but be prepared to feel disgusted after finishing. Mr. Stanford stole money from hardworking people...money earned honestly and with dedication. His "people" heavily persuaded highly qualified financial investment firms to encourage their clients to purchase CDs from his institution with a promise of a high return while he lived lavishly off the interest. None of the money was EVER invested. How does this happen? I will never understand people who are willing to go after whatever they want no matter how much it will hurt those around them. Selfish jerk...

1 comment:

The Jones' said...

I just found out that he is the uncle of my friend's ex-husband! Crazy... the stories she just shared about his personal life are just as crazy and selfish.