Las víctimas olvidadas de Stanford ahora disponible en español

Las víctimas olvidadas de Stanford, ahora disponible en español en:

Saturday, January 23, 2016

You Can't Run a Ponzi Scheme Without a Bank: TD Bank Facing Two Canadian Trials Stemming from its Role in the Stanford Fraud

The New York Times once wrote that "You can't run a Ponzi scheme without a bank … Banks are in a unique position to notice what is going on before the money is all gone."[1] The Toronto-Dominion Bank (TD Bank) may now be wishing that it had heeded this warning. JPMorgan Chase probably does.

From the early 1990s until 2009, TD Bank was the primary provider of correspondent banking services to Stanford International Bank Limited (SIB), an Antiguan off-shore bank that sold certifications of deposit to thousands of investors around the world. Throughout that same period, Allen Stanford (Stanford), SIB’s chairman, perpetrated an $8 billion Ponzi scheme against SIB and its creditors. The scheme was the second largest of its kind, trailing only the scheme perpetrated by Bernie Madoff (Madoff). While Madoff was sentenced to 150 years in prison for his misdeeds, Stanford received a 110 year sentence and his scheme has given rise to litigation around the globe to recover funds for SIB’s creditors.

Read the Entire Article here.

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group - SIVG official Forum

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