News
2/18/2009 - Texas Firm Accused of $8 Billion Fraud
HOUSTON — In Texas, Robert Allen Stanford was just another wealthy financier.
But in the breezy money haven of Antigua, he was lord of an influential financial fief, decorated with a knighthood, courted by government officials and basking in the spotlight of sports and charity events on which he generously showered his fortune.
On Tuesday, his reign was thrown into turmoil as a caravan of cars and trucks carrying federal authorities pulled up to the headquarters of his company, the Stanford Group, to shut down what the regulators described as a "massive ongoing fraud" stretching from the Caribbean to Texas, and around the world.
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Source: The New York Times