Allen Stanford

Allen Stanford’s Ponzi scheme is considered to be one of the top grossing Ponzi schemes that have been at the forefront of white collar crime. As stated on the U.S. Securities and Exchange Commission website, “a Ponzi scheme is an investment fraud that involves the payment of purported returns to earlier investors by the contribution of new investors that promises to generate high returns with little or no risk” (Sec.gov). These schemes take advantage of people who put their faith in the offender

Stanford Financial Group Corporate Scandal Authors: Brian Bailey, Gina Hallman, Matthew Kazor, ShaVonne Robinson, Daryl Wertz, and Devin Williams Date: Week 5 Tuesday 22nd January 2013 1-2. In February of 2009, the Antigua/Texas based global financial group (made up several subsidiaries owned by the same owner) owned by R. Allen Stanford was charged with scamming their customers by the Securities and Exchange Commission. Stanford Financial Group was charged with fraud when deceptively

using the example of Stanford Financial Group Company to show how the banking fraud can be committed. Moreover, the paper will also look at the different frauds that can be committed in the banking sector and how the vulnerabilities can be avoided. A fraud prevention program will also be created meant to help companies in the banking industry prevent and detect crimes and frauds before they occur (Riggs, 2007). Stanford Financial Group Company: A Brief History The Stanford Financial Group Company

Over the next decade Mr. Stanford, directly assisted by James M. Davis, Stanford International Bank’s CFO, and Leroy King, Antigua’s chief banking supervisor, executed a massive Ponzi scheme. In addition, Laura Pendergest-Holt, the chief investment officer of Stanford Financial Group (“SFG”) and a member of SIB’s investment committee, gave credence to the fraudulent scheme by misrepresenting herself to investors and to the firm’s financial advisers claiming that she oversaw SIB’s entire investment

Allen Stanford was, at one point, a successful entrepreneur whose investment company’s accounts totaled in the billions. The aforementioned keyword is ‘was.’ As CEO of Stanford Financial Group, Stanford essentially ran a massive Ponzi scheme; he issued certificates of deposit at an offshore bank that he controlled and illegally used the investors’ funds. These CD’s were appealing to investors due to their high returns of nearly twice the average rate of return of investments in U.S. banks. Investors

the classroom. Over by the oak tree, four-year-old Allen and his teacher, Helen, were staring at each other. “Allen, get off the slide. It’s time to come inside now,” I said to him. Allen ignored me and ran around the other side of the slide. Then I emphasized what I said to him one more time: “Play time is over, Allen. You must come inside the class now.” No response. I was so mad that I increased my voice to him. “Allen! Get down now!” Allen tightly grabbed the side of the climber structure without

their first pitch to lease land to the Allen family who have two young children. Thomason, a mother of a teenage boy herself, utilizes fear to deceive Mrs. Allen (from whom they are trying to lease land) that the only way Mrs. Allen’s young son will have a bright future is if they allow Global to come into their town and lease their land for drilling. While trying to convince the family that leasing their land is the right decision Thomason says to Mrs. Allen, “Even before the drilling, the

In “The Kugelmass Episode,” Woody Allen utilizes humor, especially through irony, to reveal that people are likely to lack introspection, which prevents them from learning from their mistakes. Allen introduced Kugelmass as a man who is unhappy with his current life. He is faced with immense responsibilities, such as supporting his first wife, Flo, and her kids, and dissatisfied with his current wife, Daphne, because she gained a lot of weight. As a result, he turned to a “magician” known as the Great

up something, whether it was decoding a program or coding a new operating system, he finished it. He didn’t give up and quit right in the middle of working on a project, he persisted and accomplished his task. For example, when Bill Gates and Paul Allen just founded Microsoft, they had hard times, but they were determined to make Microsoft a big and successful company, and they succeeded. All of these characteristics lead to his success to become the richest man in the

Bop Beat The bebop revolution coincided with the birth of the Beat Generation. In a slightly unbalanced relationship, Beat writers often molded their poetics and style after the playing of such jazz music. "Jazz writers," such as Jack Kerouac and Allen Ginsberg, upheld their poetic ideals to the techniques of jazz musicians, such as rhythm, improvisation, and call and response. The structure of creative writing underwent a change, as the importance of form equaled that of theme. Swing, the predecessor