Texan financier Stanford was ‘US government informer’May 11th, 2009 - 5:05 pm ICT by ANI
New York, May 11 (ANI): Texan financier and cricket promoter Sir Allen Stanford, who has been accused of a eight billion dollar bank fraud, is known to have worked as a US government informer, a BBC report claims. According to The Telegraph, a Panorama investigation has suggested that Sir Allen was shielded from an earlier inquiry into his activities because he co-operated with a US Drug Enforcement Administration (DEA) attempt to track money laundering by Latin American drug cartels.
US officials closed down his banking activities in February, alleging a vast fraud centered on his Antigua-based offshore bank. Sir Allen, 59, previously most famous as the sponsor of the Twenty20 cricket tournament, has vowed to clear his name.
Panorama claimed some US officials were aware of Sir Allen’s cartel links as long ago as 1990.
It reported that Stanford paid a 3.1 million dollar cheque to the DEA in 1999 after that sum was invested in his bank by another Mexican drug gang, the Juarez cartel of Amada Carillo Fuentes.
According to Panorama, whose investigation will air on Monday, Stanford was initially investigated by the SEC over suspicions he was running a Ponzi scheme in the summer of 2006, but the inquiry was over by the winter of that year.
The BBC claims the decision to close the investigation followed a request by another government agency. (ANI)
- Sir Garfield Sobers backs beleaguered cricket mogul Stanford - Dec 18, 2009
- Cricket mogul Stanford to be stripped of knighthood over Ponzi scam - Nov 03, 2009
- US suspected Allen Stanford's 'Ponzi schemes' long before ECB deal: WikiLeaks - Dec 21, 2010
- ECB faces legal threat over ill-gotten' Stanford gains - Feb 03, 2011
- Cricket moghul Stanford hospitalized after prison fight with fellow inmate - Sep 26, 2009
- Cricket tycoon Stanford files 7.2 billion dollar lawsuit against US prosecutors, SEC - Feb 19, 2011
- Former Governor of Mexican State extradited to the US for involvement with the Juarez Cartel - May 11, 2010
- Libya rejected offers to invest with Bernie Madoff, Allen Stanford: WikiLeaks - Feb 24, 2011
- Stanford was poised to launch UK investment business - Feb 20, 2009
- Five bullet-riddled bodies found on Mexican highway - Dec 31, 2010
- Cricket billionaire Stanford charged with 21 criminal offences in 'Ponzi' scam - Jun 20, 2009
- "Flight risk" cricket mogul Stanford ordered to await trial in jail - Aug 25, 2009
- US court finds 'mentally impaired' Stanford 'incompetent' to face trial in fraud case - Jan 27, 2011
- Mexican city's lone police officer kidnapped - Dec 28, 2010
- England cricket board suspends negotiations with Stanford after fraud charge - Feb 18, 2009
Tags: bank fraud, bbc report, carillo fuentes, cricket tournament, dollar bank, dollar cheque, drug cartels, drug enforcement administration, drug enforcement administration dea, drug gang, financier, government agency, juarez cartel, latin american, money laundering, offshore bank, ponzi scheme, promoter, suspicions, twenty20 cricket