STANFORD CASE EXPOSES LATEST WEAKNESS OF FINANCIAL CONTROLS IN SMALL ISLAND JUSRISDICTIONS
March 1st, 2012
BY LEAH GERMAIN
THE GOLDEN rule of investments has and continues to be - if it seems too good to be true, it probably is. The most recent example of this advice being disregarded causing a high profile court case involves R Allen Stanford, Texan-banker and former multi-millionaire. The ex-financier was convicted by a Houston-based jury this month (March 6) of 13 counts of fraud for his role in leading an USD7 billion Ponzi scheme, one that managed to elude auditors in the Caribbean and the USA for far too long.
Following three years of trial postponements and ...
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