Business Insider reports that Allen Stanford, the Little Madoff of this year’s crop of Ponzi artists, has been a DEA informant for the past ten years, ratting out his Colombian and South American drug dealer banking clients. It’s suggested that this is why he has yet to be arrested and I wonder whether Walt Noel’s son in law, Andres Piedrahita isn’t working the same vein. He’s got the connections, the same rumors about money laundering are swirling around him and yet there he sits, tanned, happy and just a little bit pudgy. It’s a good strategy for fending off the feds, I suppose, but my understanding of Colombian drug lords is that they’re very sensitive to slights on their honor and really get pissed off when people turn them over to the U.S. Government for prosecution. If so, Walt better invest in a good alarm system for his Round Hill cottage – these guys go after the extended family, I read.
Tag Archives: Allen Stanford
Allen Stanford has been found in Virginia. So much for my praising him just yesterday for availing himself of his fleet of jets and pulling a Vesco. Is there no one among the Ponzis who knows how, and more importantly, when to take a powder? Sheesh. How about you, Walt – still in Mustique?
Allen Stanford’s $9 billion fraud has been seen by some of us as small potatoes compared to Bernie Madoff’s $50 billion operation but I heard a politician or economist on NPR this morning (and if I find the link I’ll provide it) saying that 20% of Antigua’s workforce is or was employed in one way or the other by Stanford enterprises. That’s all going up in smoke now and I imagine that the effect on that tiny island of a 20% overnight jump in unemployment will be devastating, far worse than any hurricane. That’s awful.