CNBC PRESENTS "SECRETS OF THE KNIGHT: SIR ALLEN STANFORD AND THE MISSING BILLIONS" PREMIERING THURSDAY, MAY 14TH AT 9PM ET & 10PM PT
One-Hour Special Reported by CNBC Senior Correspondent Scott Cohn
ENGLEWOOD CLIFFS, N.J., May 12, 2009-Sir Allen Stanford is a globetrotting international banker, a billionaire, a philanthropist, and an Antiguan Knight. The money man from Texas is also accused in a massive financial scandal that rocked the world, ruined lives and wrecked a country.
On Thursday, May 14th at 9PM ET & 10PM PT, CNBC presents "Secrets of the Knight: Sir Allen Stanford and the Missing Billions," reported by CNBC Senior Correspondent Scott Cohn. The program follows a trail around the world to unlock the secrets behind Stanford's alleged $8 billion dollar Ponzi Scheme, and takes an in-depth look at Stanford himself who continues to claim his innocence in his only in-depth network interview since the scandal broke.
CNBC, First in Business Worldwide, 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 $8 billion dollar Ponzi scheme is centered.
In addition to Cohn's interview with Stanford, the program takes an exclusive look inside Stanford's lavish Houston headquarters, complete with a private five star restaurant, surround sound theater, and Stanford's massive office. Cohn also visits Stanford's array of properties on the island of Antigua, where Stanford International Bank issued $8 billion dollars in allegedly fraudulent certificates of deposit. Stanford's properties include 1,500 acres of undeveloped land that CNBC has learned is at the heart of the alleged scheme.
The one-hour program 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 dilligence before investing $2 million with Stanford in 2007. And, according to court-appointed receivers in the United States and Antigua, these victims and others are likely to see just pennies on the dollar.
For more information including video clips and slideshows log onto secretsoftheknight.cnbc.com.
Courtney Ford and Jeff Pohlman are the senior producers of "Secrets of the Knight: Sir Allen Stanford and the Missing Billions." Tyler Mathisen is managing editor, and Sanford Cannold is executive producer.
CNBC is the recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide, including more than 95 million households in the United States and Canada. The network's Business Day programming (weekdays from 5:00 a.m.-7:00 p.m. ET) is produced at CNBC's headquarters in Englewood Cliffs, N.J., and also includes reports from CNBC news bureaus worldwide. Additionally, CNBC viewers can manage their individual investment portfolios and gain additional in-depth information from on-air reports by accessing http://www.cnbc.com.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://nbcumv.com/cnbc/.