• The SEC Knew Who Allen Stanford was Before 2009, Thankyouverymuch

    By | July 28, 2009

    stanford10.jpgThe SEC would like everyone to know that it was “actively investigating” Stan the Man “well before the multibillion-dollar fraud by Bernard Madoff was revealed” but was “hampered by a lack of cooperation” from the Gun Show.
    The investigation started back in 2005 but the SEC decided it wasn’t really time to get serious with Stan until after the whole Madoff SNAFU broke. So it sounds like from 2005 to late 2008, the “actively investigating” consisted of the following:
    SEC: Hi. Are you running a Ponzi scheme?
    Stan: I’ll die and go to hell if it’s a Ponzi Scheme
    SEC: Good enough for us. Thanks for your help.
    Give the SEC a break people. They were really trying on this one.
    Stanford Hampered SEC Probe [WSJ]