CNBC'S "SECRETS OF THE KNIGHT: SIR ALLEN STANFORD AND THE MISSING BILLIONS" TO PREMIERE MAY 14TH
CNBC'S "SECRETS OF THE KNIGHT: SIR ALLEN STANFORD AND THE MISSING BILLIONS" TO PREMIERE MAY 14TH (ALL TIMES ARE ET)
A CNBC Original, "SECRETS OF THE KNIGHT: SIR ALLEN STANFORD AND THE MISSING BILLIONS" will premiere on Thursday, May 14th at 9pm & 1am (pre-empting "Playing to Win: Inside the Video Game Industry").
The show will repeat on Sunday, May 17th at 9pm (pre-empting "Big Mac: Inside the McDonald's Empire").
Texas billionaire Sir Allen Stanford is accused by the Securities and Exchange Commission of running an $8 billion dollar Ponzi scheme that has wiped out the savings of 30,000 investors. Stanford says he is innocent, and intends to fight the charges. But a CNBC investigation has found that the accounting at Stanford Financial Group is not the only thing about Allen Stanford that doesn't seem to add up. CNBC Senior Correspondent Scott Cohn sat down with Stanford on April 20 in his only in-depth network interview since the scandal broke. Now, Cohn follows up with a CNBC Original documentary, "Secrets of the Knight: Sir Allen Stanford and the Missing Billions," premiering on Thursday, May 14 at 9pm ET.
Secrets of the Knight traces the improbable rise of Allen Stanford, from his roots in the small town of Mexia, Texas, through a series of business ventures including a failed health club in the 80s, to the island nation of Antigua and Barbuda, where Stanford holds the title "Knight Commander of the Most Distinguished Order of the Nation," and where his alleged Ponzi scheme is centered.
In addition to the exclusive interview with Stanford, Secrets of the Knight includes an exclusive look inside Stanford's lavish Houston headquarters, complete with a private five star restaurant, surround sound theater, and Allen Stanford's massive office.
On the island of Antigua, where Stanford International Bank issued $8 billion in allegedly fraudulent certificates of deposit, CNBC visits Stanford's array of properties, which the Antiguan government is now attempting to seize. They include 1,500 acres of undeveloped land that CNBC has learned is at the heart of the alleged scheme.
Secrets of the Knight also profiles victims including 59-year-old Troy Lillie of Maurice, Louisiana, one of hundreds of ExxonMobil retirees in the Baton Rouge area who lost their entire retirement funds in the Stanford collapse. Mike Kogutt and his wife Angela Shaw of Dallas say they did three months of due diligence before investing $2 million with Stanford in 2007. According to court-appointed receivers in the United States and Antigua, victims are likely to see just pennies on the dollar.
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