Episode 67: Allen Stanford: The Dark Knight

Case File

Allen Stanford: The Dark Knight

  • Sir Allen Stanford was once one of the richest men in America. He lived and loved the high life - cruising around the world on private jets and helicopters and bouncing between multiple mansions. He even bought his own island for $63 million. But it was all based on lies. His company, The Stanford Financial Group, made its name selling what's usually a safe bet for investors – certificates of deposits. He claimed the CDs came from his offshore bank on the island of Antigua, and because of that, the company offered return rates higher than those in the U.S. When the lies grew too big and his money supply dried out – he was convicted of running an international $7 billion Ponzi scheme, and is serving a 110-year sentence in federal prison. He left a trail of some 20,000 burned investors, many of whom now live in financial ruin.

Web Extras

  • The case of Allen Stanford, a former billionaire who once allegedly sealed a deal with blood and is currently serving a 110-year federal prison sentence, could soon be back in the headlines.

  • The Start of a Fraudulent Banking Empire  Thursday, 4 Oct 2012 | 12:00 AM ET

    A tiny island in the Carribbean sees the start of Allen Stanford's long illegal banking career as a financial predator.

  • A Blood Oath Seals Bribery Scheme  Thursday, 4 Oct 2012 | 12:00 AM ET

    Stanford's former ally tells the shocking story of a bizarre ritual between Sir Allen Stanford and Antigua's chief banking regulator ... sealed with blood and bribes.

  • Scammed By Stanford Financial Group  Friday, 5 Oct 2012 | 12:00 AM ET

    Sandra Dorrell tells the story of how her broker sold her $1.3 million worth of fraudulent certificates of deposit.

  • Receivership Report [PDF] Monday, 12 Nov 2012 | 1:38 PM ET

    Receivership report covering Stanford history. (Source: Public Record / Stanford Financial Receivership)

  • US vs Allen Stanford Sentencing Memorandum [PDF] Monday, 12 Nov 2012 | 1:43 PM ET

    Sentencing Memorandum submitted 6/6/12 in the Southern District of Texas, highlighting Stanford background, history, and banking. (Source: Public Record)