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Friday, February 18, 2011

DISMAY AS OFFICIAL STANFORD INVESTORS COMMITTEE FILE LAWSUIT AGAINST ST JUDE’S CHILDREN’S CANCER HOSPITAL CHARITY

On this day today, the second anniversary of the civil action by the SEC against the Stanford Financial Group, wholly owned by Allen Stanford awaiting trial on 23 counts of fraud in Texas, allegedly too incompetent to stand trial after being beaten-up in prison and fed a cocktail of anti-depressants. What have we learned?

Firstly Allen Stanford is apparently competent enough today to file a lawsuit against the US prosecutors, the FBI and SEC, accusing them of ‘abusive law enforcement’ and seeking $7.2bn in damages. Since he was declared indigenous after Lloyds of London contested their officer’s insurance policy, following the hiring and firing of a carousel of well tailored attorneys, he is now represented by two public defenders. It begs the question who is paying for his lawsuit, and how did he miraculously recover well enough to instruct them.

Now he has recovered, please let the criminal trial begin, and that $7.2bn would also be the same amount the innocent victims of the alleged Stanford fraud have lost. If he’s so innocent, where‘s the money?

On this day today, the Statute of Limitations for any lawsuits in connection with the Stanford case also expired.

Three months ago we woke up to the fact the so-called (SIC) Stanford Investors Committee was going to do nothing very much to help us, so we found a new attorney and launched our own campaign to file FTCA claims against the Securities and Exchange Commission (SEC), for their negligence in not closing down Stanford sooner. They knew he was a fraud 13 years ago. Some of the SEC were merely asleep on the job, while others were caught with their pants down watching porn on their computers. The campaign has been a resounding success, and several thousand Stanford investors have now filed claims.

On this day today, we also anticipated a flood of claims from the receiver and the (SIC) Stanford Investors Committee, who have reportedly been toiling away tirelessly for several months in total secrecy, all in our best interests.

We anticipated a plethora of lawsuits against, amongst others;

BDO Seidman, one of the worlds largest accounting firms, who audited Stanford Group Company, and who fudged their accounts four years running to hide from SIPC it was insolvent and only being supported by tainted funds from SIB in Antigua.

FINRA, who twice fined Stanford for misleading investors, a mere slap on the wrist, but despite all the red flags, could see no further..

The State of Florida, who through their Dept of Banking and Finance granted the newly formed (in 1998) Stanford Fiduciary Investor Services, the illegal right to move vast amounts of money offshore without the reporting a penny to regulators. Yes, Jeb Bush the brother of former President George W Bush became Governor of Florida earlier that same year, and both were recipients of generous campaign donations from Allen Stanford.

Greenburg Traurig, the deep pocketed Miami lawfirm who lobbied endlessly to set up Stanfords Florida deal, and who have been implicated in numerous other murky transactions.

Forbes, and who could forget their endorsement of Stanford as one of Americas richest 40 billionaires with $50bn under management. They gave Stanford his greatest aura of credibility.

One would have anticipated, with four experienced attorneys on the (SIC) Stanford Investors Committee; together with the examiner, the receiver, and Angela Shaw Kogutt, the director and founder of the SVC; these would all be rich pickings; but did they choose to file any suits against any of these? No, not one.

On this day today, sadly, we learned they chose instead to file a suit against St Jude’s, the children’s cancer research hospital charity who give hope to sick children and their families. Allen Stanford donated $7m towards St Jude’s, quite possibly the only truly good deed the ‘Knight’ ever did. No matter where those funds came from, there is one indisputable fact; St Jude’s received and spent them in good faith to keep a lot of sick kids alive, and who can begrudge them that?

On this day today, it should have been the day we were all celebrating having made the first step towards recovery from the US Government, who knew for 13 years that Allen Sanford was a fraud, but did nothing. Instead I am sickened that the Stanford Investors Committee, who supposedly act in our best interests, could have instigated such a callous and insensitive action against such a deserving institution as St Jude’s without our knowledge, and without our consent.

To all the Stanford investors reading this, I urge you to write or email the Stanford Investors Committee members to withdraw this suit against St Jude’s. In the eyes of the world we are all as equally guilty as those undeserving members of the committee who are behind it. Please let us do one good thing and make this right.

Thank you

Richard

1 comment:

  1. I wonder exactly how many law suits/counter suits, in total, have been filed because of this whole Stanford debacle. Even the attorneys, for the attorneys are suing each other.

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