My father was approached by a Stanford Group Representative here in Baton Rouge, LA when he was preparing to retire from the ExxonMobil Corporation after 35 years of employment. These guys were swimming around like sharks smelling blood looking for long-term employees with the big oil companies here on the Gulf Coast. Dad told me if it sounds to good to be true then it probably is and turned these guys down. Two of his coworkers took the bait and lost their entire life savings. Good job dad! You've taught me a lot about investing.
@@ronnylee1520 not only in America. I live in Asia. My mom came up to me one day saying she signed up for this amazing financial program that would make her money and tried to force me into joining. I outright told her no and she got super mad at me for not trusting her and got my dad to yell at me (he didn't know the full story he's a yes dear type) good thing she never put a lot of money in cause the "company" was just shut down overnight. I don't know how all that works but that's really her problem at that point.
He was telling the people, to their face, what would eventually happen to him. He spoke the truth, foretelling his demiss. What he failed to mention was, it can also get you 110 years in federal prison.
Financial advisors at a bank are not advisors, they're sales man. If you have no knowledge of investing, they will clean you up. They'll take advantage of you.
The banking industry is no longer guided by the word CAUTION. It is just as volatile as any other industry including investing in gold, diamonds, foolishness. Someone just out of college with absolutely little experience as to worldly ways has no business advising people what to do with their retirement funds. They should be tellers for a few years then eased into the situation. Instead, just out of college and from an ivy league school supposedly is enough experience reputation to then sell, sell, sell.
I remember being in Antigua...when he kept 20/20 cricket in the year 2006...i remember when they came for him. He had done great for Antiguans...they all missed him. His building is still there and one in St. Kitts. Until now Antiguans talks about him. He had built his own cricket ground in Antigua. He had funded the Stanford 20/20 cricket tournament in the west indies. He use to fly in his private helicopter to Antigua...i was surprised when he was arrested.
I worked at this company from 2004-2007. I was not a broker. I was an Executive Assistant at the Miami office of Stanford Group Company. The Bank in Antigua was under Stanford Financial Group who was the branch under which the Antigua Bank operated. I worked at SGC and I was the Executive Assistant of the President who was married to I believe a niece of Allen Stanford or the CFO Jim Davis. I met Allen Stanford at work and we both went to the same gym in Miami by coincidence, the gym was conveniently located in the same building where the SFG group was and SGC was close by. The gym had a 70’s feel. Stanford liked the gym for obvious reasons. It reminded him of the time he was a gym owner in Texas and bcse it was right on top of his office. I went there bcse it was convenient. I ran into him at the gym and he knew me by first name. All the employees were terrified of him but he was familiar with me and when he came to his office in Miami he always said hi to me. Everyone was surprised he called me by first name and I always said we went to the same gym. I even joked with him a few times. Sometimes it was better he didnt know our name. He could get you fired just because he did not like your outfit. He had a receptionist fired on the spot for wearing a revealing outfit. He was very strict about the dress code. We had to wear suits and there was never a casual Friday. He was very tall and charismatic guy who inspired fear. I have a degree in Journalism and I always suspected something shady went on. I used to prepare financial reports for the Investment division. All were companies of little substance and I could not quite understand how they were profitable. I did not know much I was very young. I remember every time I tried to dig into information about him I got nowhere. I did find an article about some of his people being on the commission for banking regulations in Antigua and I knew this was not ok. I mentioned this to some co workers. There was a culture of a boys club. Obscene conversations were had in public and some of the female staff complaint about them. I had to report these behavior to HR and some execs got reprimanded. I had 3 bosses and two of them were real pos. They talked behind Vo workers, had nicknames for each other, spoke obscene things about female co workers and were abusive bosses. They had private mail in the office that was used to pass around porn dvds. I heard some pretty shocking stories while I worked there. I had a co worker that work for an older guy that was a long time employee of Stanford, an Italian old guy, she bragged how the company spare no expense to wow the the clients with trips to Antigua in private jet, expensive gifts and trips to strip clubs. No expense spare to gain clients trust. The min for CD investing was 50K and I almost had my Mom convinced to put some money there since It all looked legit. Luckily she did not. The auditor of the bank was a very old man in Antigua and that always was very suspicious to me that the Auditors were not one of the Big 4’s but an unknown audit firm in Antigua and I thought bcse the bank was in Antigua maybe that was the reason. I do believe most employees were not aware of these shenanigans. We were about 2500 between Miami, Houston, Baton Rouge, Denver, London, Venezuela, Bogota and other smaller offices and every day business was legit in some areas. We had interns from prestigious universities and bankers that came from prestigious institutions that had no idea what the SFG was up to. They raised money and made deals with known banks and those transactions were legit. The crimes and ponzi schemes were on the cds and the Antigua bank. I think some of the other business that were legit helped support the Ponzi scheme. I also believe some people were fired when they started noticing irregularities and asking too many questions. The Chief Investment Officer was a very young woman Laura Pendergast that had no credibility and a lot of employees always questioned her credentials. This was corridor talk. I believe she was the CFO mistress, this was known later after the scandal broke out. She ended up in jail. I left the company about a year before the whole thing blew up. It feels like ancient history now. I once was on a plane and happened to sit down to a guy that was from Antigua. We started talking and He said that Stanford owned the Island and he despised him bcse he ran it like his personal mafia clan. He said Stanford controlled everything in the Island. If you were. It with him you were his enemy. This guy lost his business because Stanford wanted to control also the food that came into the island and he could not compete with him. It is unfortunate that so many people lost their life savings but Honestly Stanford and his closest circle were impenetrable. We were all convinced everything was legit. I always thought Stanford was shady bcse he had many wives. His assistants (5 of them) were paid very well to keep quiet. There was an older lady that by that time was in her 70’s that probably handled his most intimate matters and she was a very very secretive person. There was these other guy who ran personal errands for Stanford but they never talked. I ended up working there after I interviewed to be his assistant but I did not get the job because of my accent since I am Hispanic they did not like that. I never interviewed with him. I knew this later of course. So racist. However they called me a few days later to offer me another job on the other company and I took it bcse they paid decent salary and it was a prestigious company in Miami. I never handled clients files or money. When I heard about the raids I lived in San Francisco but still had girlfriends working there. They were as surprised as everyone. I am embarrassed to put this in my resume and I feel terrible for the damage he and his accomplices caused. Stanford claimed he was relative of the founder of Stanford University and he was relative of the former Ca governor Leelamd Stanford but he was not and he had pictures in the offices of his great grandfather who used to have an insurance business. He made it look like he came from a prestigious family with old and honest hard earned money. He had all of us fooled. He was a master manipulator. I do know the helicopter with the Stanford name was rented. He had the yachts and the homes and several ex wives and children that lived very well. He even owned a castle. Certainly he could have not done it alone. I even think some people in the SEC and other financial institutions runrunes a blind eye or ignored anything suspicious they saw. He got too big and a lot of people benefited from his activities.
Great story, do you have more information where to get more details on how he operated day to day activities? I want to read more about him for my research report
I was born and raise in the island of Antigua, I remember as a kid when Stanford was around life was good . he provides a lot of jobs and help the people alot ,,,my mom used to work for him and she use to can provide anything I ask for .. Antigua miss Stanford but we had no idea he was thief at all
Helping a few, while stealing from more than a few.... and enriching himself to the max! That was the problem with Scamford, as he was referred to in Texas after he was arrested and his banks taken over by the Feds overnight.
I like to watch Allan Stanfords Story over and over again. How arrogant he was. I even like what he said " If you are full of BS, it will get you to the top, but will never never keep you there". Nice one Allan!😂😂😂
I just did, on Christ that is, He is God in a human body, we'll all do well if we do so, and by the way, money has nothing to do with it, it's souls, addicts, the lows of society who can't help me back, that's my realm of business, watch this space, I'll keep yous up to date if I'm legit or not, if I get rich from doing it, then I'm illegitimate
Muhammad Khan I feel sorry for them all n I am hoping that things hv gotten but for them now. But I am surprised that people who are supposed to have very high IQ canbe dubbed this was. They should have been able to see it n not get into it at all. Smh
5 лет назад+1
@@LuckyLucky-xp2sz The best 'marks' are those with a high IQ. They believe they can spot a fraud.
@ she was a retired teacher, we have our own retirement for life, the NEA, and you get medicare at age 65, no need for them to invest in anything!, I live a very comfortable life, no need to invest.. nice small house, too big of a yard, a new car, my savings will go to my kids, not some scammer, I'm a senior, but by no means dumb, I tell my children dont invest in anything, just regular savings in your credit union, safer. Love these American Greed shows, lol🌴💋💜 from sunny Cali.
No sympathy. They made a stupid decision based on one man's advice and put all their money in one account, which goes against common sense and the first rule of investing (diversification).
Wow, Allen Stanford really threw himself under the bus. Exodus 20:15 " Thou shalt not steal." 1 Timothy 6:10 "For the love of money is a root of all kinds of evil. Some people, eager for money, have wondered from the faith and pierced themselves with many griefs."
i was hired into their marketing department - to this day, I have no idea how they found me all the way in NYC. They moved me, gave me a real office and within a month I started to ask questions. The more questions I asked, the more pushback I got. I am grateful to my dad who taught me to be weary of scammers and how they move. . The numbers simply DID NOT ADD UP. take note they were never allowed to enter London, Swiss or EU financial markets nor any real prominence in NYC aside from a "trading desk". They targeted hard working small American townspeople and it was very obvious. they operated all over South America and the Middle East: selling "an American" bank. There was NEVER a bank. There were very fancy offices in Antigua. That is all. By month 6 I knew this was all BS, and I quit. But get his: they chased me for a few weeks, because I had taken "marketing materials". I contacted MSNBC and was ignored completely even after speaking with at least 2 reporters. this was in 2005. Not kidding. Stanford knew that no one would believe an of this: and that is how he got away with it so long. The government in Texas was complicit. Look at who his friends were at the time. Plenty of private jet flights to antigua that many were aware of. side note: i moved countries for 8 years.
"If you're full of BS it will get you to the top, but it will never ever keep you there" Self-fullfilling prophecy there for him. He knew eventually the ride would end.
by the way, TD bank settled 2023 with thr SEC. Clients now got back $.46 on the dollar. I know it’s only half but this is really the best they could’ve hoped for. TD bank paid over 1 billion in fine which is far exceeding the revenue from this relationship.
It would be interesting to find out why nobody in the town seems to really know him ... are you implying that maybe he's not really fun that town but somewhere else ?
Everyday people need to learn that THERE IS NO GOOD DEAL in finance. There's so many automatic computers, algorithms, professional traders, etc. When the market is efficient you trade profit for risk. That's what finance is all about. It is not possible to make a low-risk high-reward investment in an efficient market. If it sounds too good to be true, when it comes to finance, it with 100% certainty is.
It was the late 80s and early 90's. Almost all investment and financial institution ads looked like this. Both the style of filming and the overall astetic with the excessive cherry stained woods and veneers, green or ruby carpet and brass or gold plate finishes mixed with medium to dark colored stone, are synonymous with this era. This style is about to return after the latest comeback of the monocromatic look with white painted and white washed wood look. Each generation decides to reinvent a style from the past with a twist. We're in the light and bright look right now. Then it'll be mid tones with pastels. And on to the darker tones again.
I found it crazy that in the US they have advertising on television of this type even for doctors,lawyers...how crazy would be if I had to see my doctor advertising himself....
Greed and d love of money. What UPSETS me is the same energy, scheming, time and resources the put in their schemes they could easily invest the same ans make legit money and reputation instead of d shame
"At sentencing, Stanford spoke for the first time in the proceedings, denying that he had ever swindled anyone. He blamed his company's failure on "Gestapo tactics" by government regulators. He is incarcerated at Coleman II USP in Sumterville, Florida; his earliest possible release is April 17, 2105-when he will be 155 years old."
A financial advisor will only do business with, for a company he's getting kick backs with. So go with someone who's known to you or at least you've got to know. Letting your bank or accountant recommend an advisor they will only advise you on what the bank sells or the FA gets a kickback on. Simple.
1. When quoting others, name your sources 2. This is a categoric statement. So please name the crimes behind the fortunes of Bill Gates and Warren Buffett.
"What does it profit a man to gain the whole world and lose his soul" Mat 16:26. Who needs 7 planes really? That$100m yacht improvement could have bailed him out to pay many off before he was discovered, but no, foolish greed still got the better of him.
Work, and invest your own money. If one has a lot of money, invest in your own children or in your own family, young and old. Also, invest in your own schools, and Universities. Consider it. I’d create a corporate foundation in order that a few are able to invest, and acquire resources-money and or provisions.
Allen Stanford is second only to Bernie Madoff in defrauding and stealing investor money. For TD Bank to have done business with Stanford for two decades, knowingly allowing Stanford to further expand his thievery to the United States mainland, is inexcusable. They should be required to pay a percentage back to those who lost money.
All those powerful words with no details......I am not any kind of investor by any means...but in the first minute talking to him I would have known he was a monumental crook......
No qualified financial adviser would suggest you to put all your money in the one place. And even when you don't understand anything about finance as a customer surely life experience tells you not to put all the eggs in the same basket.
"Sir Allen" will have plenty of time to think about how badly he fucked up not only his life, but the lives of all the people he robbed. See you in 110+ years Allen ..... Hopefully TD Bank is also held accountable in some way although I'm not holding my breath.
I have a story suggestion: Eike Batista Seen by many as the face of Brazilian capitalism Bold, extravagant and charismatic, he made most of his fortune during the commodities boom that brought great wealth to Brazil Listed in 2012 by Forbes Magazine as the world's seventh-richest man, with an estimated fortune of $35bn. Now serving 30 years in Prison.
Putting himself out front brought him down. Other faceless Canadian banks had no problems with similar operations. Making himself the brand put a target on his back.
treats his employees like family sounds like walmart and they're still in business..so what happen to the 8 billion??????? where did that go did it just disappear into the govt hands or was the stanford sued until it was depleted or did the lawyers get fat off the lawsuits or what.
i just watched this, and i am here thinking the same thing, he wasn't broke when arrested his banking business was in full effect, so why are there people saying they didn't get their money back, i know the government too all the money he had plus properties and anything of value, so what did they do with it?
Everything was fine till the gov got involved people could have received there money if wanted, government came in, per usual and people get screwed, per usual lol
@@logantaylor2156 - People who hate the government so much that they are willing to sacrifice their brains and intelligence to maintain their position.
I am always amazed that people with a nest egg risk it all for a ridiculous scheme to double/triple their hard earned savings by 10% or more in a short amount of time. That just screams SCAM!!! Its hard to feel sorry for them. So wise to save the hard earned money and so quick to invest it all based on professional looking portfolios and smooth talk. I may be poor (by their standards) but never would I even consider taking such a risk in my later years.
There is NO difference between what Allen Stanford did than what banks are doing with "fractional reserve banking". Take your money, pay you 1% in a CD, while taking ALL of your principle and lending out 100% of your money to other folks at 8% -20% rates while only legally having to keep 10% of your deposit money held in reserve. #itsallaponzischeme
Easier said as an observer, but that is why you should always diversify and learn the skills to invest your own money. However l definitely have empathy with the victims.
😬 .... Ironic the people who try to pretend to be so generous are usually the biggest thieves. I would be more generous too if I was giving away other people’s money 😂!
The whistleblower guy is not your typical whistleblower he looks like a mean dude but he’s just so honest. He immediately felt like the Antigua branch was less assuring. That’s a dude with a conscience. Can we make him pres?
Any time you are led to believe that you can earn more from one investment company than the banks and other firms, you're being scammed. The investments are riskier, more fees, etc. Especially for retirement accounts.
I've watched a few of these Greed docos. You can almost spot straight away the traits of wanna be millionaires, the show boating is what gives it away.
Investing rules 1. Every investment is a risk 2. Only invest what u don’t need 3. Diversify 4. Trust no one 5. References 6. 20% returns are a red flag
How did they loose almost all their money? Shouldn't the courts have liquidated the assets and seized the accounts giving it back to the victims as much as possible. Where did the money go?
This is the first time I am really hearing the fictitious story about a great man who helped people all over the world. When the Lamblike Beast plus the Scarlet Coloured Beast cannot control a person they rip them to shreds. BUT THERE IS A MIGHTY GOD WHO WILL MAKE ALL THINGS WELL IN THE END!!!!
@3:05 such a struggle it was that you chose to relinquish your hard earned it to someone and to a company you did not know -- and when you were "making money" you chose to stay silent, never mind that the gains you were "making" were extraordinary. In fact, that's when you chose to invest more...
Couple of questions.: 1. Was this conviction for money-laundering or for running a Ponzi scheme? 2. Were there any recoverable assets? 3.An operation of this size needs more than one man to run it. Where there any co-conspirators charged and convicted? 4.Was there a sentencing requirement to make restitution?
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
My father was approached by a Stanford Group Representative here in Baton Rouge, LA when he was preparing to retire from the ExxonMobil Corporation after 35 years of employment. These guys were swimming around like sharks smelling blood looking for long-term employees with the big oil companies here on the Gulf Coast. Dad told me if it sounds to good to be true then it probably is and turned these guys down. Two of his coworkers took the bait and lost their entire life savings. Good job dad! You've taught me a lot about investing.
Standford came to the Caribbean and keep t20 cricket called Standford 20/20 cricket giving away thousands of $$$
Smart dad. Awesome story.
only in America 🇺🇸 😪
@@ronnylee1520 not only in America. I live in Asia. My mom came up to me one day saying she signed up for this amazing financial program that would make her money and tried to force me into joining. I outright told her no and she got super mad at me for not trusting her and got my dad to yell at me (he didn't know the full story he's a yes dear type) good thing she never put a lot of money in cause the "company" was just shut down overnight. I don't know how all that works but that's really her problem at that point.
Bloody hell that taught you a lot ?
Just shows how easy it is to get fools
Anyone else find watching these 'older U.S.' programmes a strangely refreshing break from today's generic offerings?
Soooo, what are you trying to say - that _"Keeping Up with The Kardashians"_ is not good documentary media?!? AHHHHHH HAHAHAHAHAHA
Universal Peace yes... no sensationalism just a good story about some rotten people with good narrating. Love it.
Yeah stumbled on Mastermind the other day been binge watching...London locked
Of course
Lol you have no ideas.
“BS WILL GET YOU TO THE TOP ...but it won’t keep you there.”
- A Rich Thief
He was telling the people, to their face, what would eventually happen to him. He spoke the truth, foretelling his demiss.
What he failed to mention was, it can also get you 110 years in federal prison.
RamZ . . . and a broken face.
c b yep I’ve seen it. What happened to his face?
Balla Jallow boots, mostly.
That's right
Do not ever give your money to anyone who is able to speak and smile at the same time!!!
how true😐
Krystian Janusz LOL 💯💯💯
Speak with your mouth, smile with your eyes.
I'm going to remember that. Supercilious smile makes me edgy.
Financial advisors at a bank are not advisors, they're sales man. If you have no knowledge of investing, they will clean you up. They'll take advantage of you.
it's everyday - Very well stated, and I agree.
Agree entirely!
Only a dummy with money don't know that!
OMG YOU ARE SO RIGHT!!!
The banking industry is no longer guided by the word CAUTION. It is just as volatile as any other industry including investing in gold, diamonds, foolishness. Someone just out of college with absolutely little experience as to worldly ways has no business advising people what to do with their retirement funds. They should be tellers for a few years then eased into the situation. Instead, just out of college and from an ivy league school supposedly is enough experience reputation to then sell, sell, sell.
The moral of the story is if you are full of BS it will get you to the top but never never keep you there! Very well said!🤣🤣🤣
Like they asked him if it's fun being a billionaire, now they should ask him "is it fun being in prison?".
I remember being in Antigua...when he kept 20/20 cricket in the year 2006...i remember when they came for him. He had done great for Antiguans...they all missed him. His building is still there and one in St. Kitts. Until now Antiguans talks about him. He had built his own cricket ground in Antigua. He had funded the Stanford 20/20 cricket tournament in the west indies. He use to fly in his private helicopter to Antigua...i was surprised when he was arrested.
He couldn't keep2020 cricket in 2014 when he can arrested in 2009 . How's that possible?
@@gregoryk6279 lol it should have been 2006 July my bad didn't even realize the phone had type 2014
@@gregoryk6279 thanks for the heads up
I worked at this company from 2004-2007. I was not a broker. I was an Executive Assistant at the Miami office of Stanford Group Company. The Bank in Antigua was under Stanford Financial Group who was the branch under which the Antigua Bank operated. I worked at SGC and I was the Executive Assistant of the President who was married to I believe a niece of Allen Stanford or the CFO Jim Davis. I met Allen Stanford at work and we both went to the same gym in Miami by coincidence, the gym was conveniently located in the same building where the SFG group was and SGC was close by. The gym had a 70’s feel. Stanford liked the gym for obvious reasons. It reminded him of the time he was a gym owner in Texas and bcse it was right on top of his office. I went there bcse it was convenient. I ran into him at the gym and he knew me by first name. All the employees were terrified of him but he was familiar with me and when he came to his office in Miami he always said hi to me. Everyone was surprised he called me by first name and I always said we went to the same gym. I even joked with him a few times. Sometimes it was better he didnt know our name. He could get you fired just because he did not like your outfit. He had a receptionist fired on the spot for wearing a revealing outfit. He was very strict about the dress code. We had to wear suits and there was never a casual Friday. He was very tall and charismatic guy who inspired fear. I have a degree in Journalism and I always suspected something shady went on. I used to prepare financial reports for the Investment division. All were companies of little substance and I could not quite understand how they were profitable. I did not know much I was very young. I remember every time I tried to dig into information about him I got nowhere. I did find an article about some of his people being on the commission for banking regulations in Antigua and I knew this was not ok. I mentioned this to some co workers. There was a culture of a boys club. Obscene conversations were had in public and some of the female staff complaint about them. I had to report these behavior to HR and some execs got reprimanded. I had 3 bosses and two of them were real pos. They talked behind Vo workers, had nicknames for each other, spoke obscene things about female co workers and were abusive bosses. They had private mail in the office that was used to pass around porn dvds. I heard some pretty shocking stories while I worked there. I had a co worker that work for an older guy that was a long time employee of Stanford, an Italian old guy, she bragged how the company spare no expense to wow the the clients with trips to Antigua in private jet, expensive gifts and trips to strip clubs. No expense spare to gain clients trust. The min for CD investing was 50K and I almost had my Mom convinced to put some money there since It all looked legit. Luckily she did not. The auditor of the bank was a very old man in Antigua and that always was very suspicious to me that the Auditors were not one of the Big 4’s but an unknown audit firm in Antigua and I thought bcse the bank was in Antigua maybe that was the reason. I do believe most employees were not aware of these shenanigans. We were about 2500 between Miami, Houston, Baton Rouge, Denver, London, Venezuela, Bogota and other smaller offices and every day business was legit in some areas. We had interns from prestigious universities and bankers that came from prestigious institutions that had no idea what the SFG was up to. They raised money and made deals with known banks and those transactions were legit. The crimes and ponzi schemes were on the cds and the Antigua bank. I think some of the other business that were legit helped support the Ponzi scheme. I also believe some people were fired when they started noticing irregularities and asking too many questions. The Chief Investment Officer was a very young woman Laura Pendergast that had no credibility and a lot of employees always questioned her credentials. This was corridor talk. I believe she was the CFO mistress, this was known later after the scandal broke out. She ended up in jail. I left the company about a year before the whole thing blew up. It feels like ancient history now. I once was on a plane and happened to sit down to a guy that was from Antigua. We started talking and He said that Stanford owned the Island and he despised him bcse he ran it like his personal mafia clan. He said Stanford controlled everything in the Island. If you were. It with him you were his enemy. This guy lost his business because Stanford wanted to control also the food that came into the island and he could not compete with him. It is unfortunate that so many people lost their life savings but Honestly Stanford and his closest circle were impenetrable. We were all convinced everything was legit. I always thought Stanford was shady bcse he had many wives. His assistants (5 of them) were paid very well to keep quiet. There was an older lady that by that time was in her 70’s that probably handled his most intimate matters and she was a very very secretive person. There was these other guy who ran personal errands for Stanford but they never talked. I ended up working there after I interviewed to be his assistant but I did not get the job because of my accent since I am Hispanic they did not like that. I never interviewed with him. I knew this later of course. So racist. However they called me a few days later to offer me another job on the other company and I took it bcse they paid decent salary and it was a prestigious company in Miami. I never handled clients files or money. When I heard about the raids I lived in San Francisco but still had girlfriends working there. They were as surprised as everyone. I am embarrassed to put this in my resume and I feel terrible for the damage he and his accomplices caused. Stanford claimed he was relative of the founder of Stanford University and he was relative of the former Ca governor Leelamd Stanford but he was not and he had pictures in the offices of his great grandfather who used to have an insurance business. He made it look like he came from a prestigious family with old and honest hard earned money. He had all of us fooled. He was a master manipulator. I do know the helicopter with the Stanford name was rented. He had the yachts and the homes and several ex wives and children that lived very well. He even owned a castle. Certainly he could have not done it alone. I even think some people in the SEC and other financial institutions runrunes a blind eye or ignored anything suspicious they saw. He got too big and a lot of people benefited from his activities.
Wa ya right a story tarl Antigua me come from gyal
Great story, do you have more information where to get more details on how he operated day to day activities? I want to read more about him for my research report
Were you ill the day they talked about using paragraphs on the Jounalism course?
@@paulcorrigan3174 Hahaha savage 🤣
@@paulcorrigan3174My reaction precisely. Paragraphs are our friends.
This guy single handily made 2020 cricket popular
What's that saying? The safest way to double your money is to fold it in two and place it in your pocket? Lol :D
@soulglo it s not working for me......
Facts
😭😭😭😭😭
I’d rather compound 6% per month
Easy
His mustache was a dead giveaway to fraud.
SwampDweller67 LOL💯💯🙌🏾💀😝😝
😂🤦🏽♀️🤷🏽♀️
:-DDD !!!...for some funny reason, I found myself humming the song "Just a gigolo" //-)
@@MrMagnusFogg Theme song for sure
@@SwampDweller67 :-)))
At this point, I'm convinced that the entire stock market and investments are just one huge ponzi machine.
its called greed
I've been in it now for a couple years, and lets just say your money can do alot better elsewhere.
Just like the insurance companies
What about mortgage companies? For me that’s the ball and chain I can’t rid myself
I was born and raise in the island of Antigua, I remember as a kid when Stanford was around life was good . he provides a lot of jobs and help the people alot ,,,my mom used to work for him and she use to can provide anything I ask for .. Antigua miss Stanford but we had no idea he was thief at all
Helping a few, while stealing from more than a few.... and enriching himself to the max! That was the problem with Scamford, as he was referred to in Texas after he was arrested and his banks taken over by the Feds overnight.
Never trust anyone with your children, wife or money
Well the babysitters all over the world are out of jobs if you use that logic
I’m a steal that. LoL. Thx
That's about right!
I like to watch Allan Stanfords Story over and over again. How arrogant he was. I even like what he said " If you are full of BS, it will get you to the top, but will never never keep you there". Nice one Allan!😂😂😂
You NEVER put all of your eggs in ONE basket. Never.
You do if you are greedy.
Or, as my father would say "How much money should you invest? Same amount as if you would to gamble in Vegas; *ONLY an amount you can afford to lose*
Invest yourself, don’t give your money to someone else to gamble for you.
@@BigAL0074 Or just plain daft!
I just did, on Christ that is, He is God in a human body, we'll all do well if we do so, and by the way, money has nothing to do with it, it's souls, addicts, the lows of society who can't help me back, that's my realm of business, watch this space, I'll keep yous up to date if I'm legit or not, if I get rich from doing it, then I'm illegitimate
if it sounds too good to be true - its probably IS too good to be true!!!
I am feeling very sorry for the old lady and many others like her. People hard earned money is used for a lavish life style.
Muhammad Khan I feel sorry for them all n I am hoping that things hv gotten but for them now.
But I am surprised that people who are supposed to have very high IQ canbe dubbed this was. They should have been able to see it n not get into it at all. Smh
@@LuckyLucky-xp2sz The best 'marks' are those with a high IQ. They believe they can spot a fraud.
@ she was a retired teacher, we have our own retirement for life, the NEA, and you get medicare at age 65, no need for them to invest in anything!, I live a very comfortable life, no need to invest.. nice small house, too big of a yard, a new car, my savings will go to my kids, not some scammer, I'm a senior, but by no means dumb, I tell my children dont invest in anything, just regular savings in your credit union, safer. Love these American Greed shows, lol🌴💋💜 from sunny Cali.
No sympathy. They made a stupid decision based on one man's advice and put all their money in one account, which goes against common sense and the first rule of investing (diversification).
Wow, Allen Stanford really threw himself under the bus.
Exodus 20:15 " Thou shalt not steal."
1 Timothy 6:10 "For the love of money is a root of all kinds of evil. Some people, eager for money, have wondered from the faith and pierced themselves with many griefs."
fraud
My grandmother used to say, "if it seems to good to be true, it probably is"... Greed.
i was hired into their marketing department - to this day, I have no idea how they found me all the way in NYC. They moved me, gave me a real office and within a month I started to ask questions. The more questions I asked, the more pushback I got. I am grateful to my dad who taught me to be weary of scammers and how they move. . The numbers simply DID NOT ADD UP. take note they were never allowed to enter London, Swiss or EU financial markets nor any real prominence in NYC aside from a "trading desk". They targeted hard working small American townspeople and it was very obvious. they operated all over South America and the Middle East: selling "an American" bank. There was NEVER a bank. There were very fancy offices in Antigua. That is all. By month 6 I knew this was all BS, and I quit. But get his: they chased me for a few weeks, because I had taken "marketing materials". I contacted MSNBC and was ignored completely even after speaking with at least 2 reporters. this was in 2005. Not kidding. Stanford knew that no one would believe an of this: and that is how he got away with it so long. The government in Texas was complicit. Look at who his friends were at the time. Plenty of private jet flights to antigua that many were aware of. side note: i moved countries for 8 years.
Great story! Thanks
Very informative hope you learned a lot from him
"If you're full of BS it will get you to the top, but it will never ever keep you there" Self-fullfilling prophecy there for him. He knew eventually the ride would end.
15:54 and 16:43 ....those graphics are AMAZING 👏
Thanks Cinco 😅
The guy who quit was very fortunate. Sending him to Antigua could’ve been a set up to get him murdered. Seriosuly.
Angelofmusic Wonder I thought that too
"Behind every great fortune is a great crime." -Joseph Stalin
People always over value their own path.
Behind every great tyranny is a heinous dictator (e.g., Stalin).
Yeah like Stalin had no fortune LOL
Gotta remember that . . . ! 🎭💀😬
Great phrase!
In this case we should have Killed the Messenger (but kept the message).
Yet the world did the opposite...
by the way, TD bank settled 2023 with thr SEC. Clients now got back $.46 on the dollar. I know it’s only half but this is really the best they could’ve hoped for. TD bank paid over 1 billion in fine which is far exceeding the revenue from this relationship.
I read TD got hit with a 3 bil fine
The elderly couple have my sympathy
Being full of BS will get you to the top, but it will not keep you there. People always tell you who they are. You just have to listen.
Alfred Collins exactly
He’s from my home town & until this news broke, most of us here never knew he existed & It’s a very small town
So he never had any personal relationships there?
It would be interesting to find out why nobody in the town seems to really know him ... are you implying that maybe he's not really fun that town but somewhere else ?
Incredible how this Hazlet man seemed to be the only one that had his eyes open.. incredible
Everyday people need to learn that THERE IS NO GOOD DEAL in finance. There's so many automatic computers, algorithms, professional traders, etc. When the market is efficient you trade profit for risk. That's what finance is all about. It is not possible to make a low-risk high-reward investment in an efficient market. If it sounds too good to be true, when it comes to finance, it with 100% certainty is.
If greedy people disappeared this world without a doubt would be at peace
I dont know about the rest of you but those " slick advertisement videos " seem to look awfully close to the style that Scientology uses
What works, works.
It was the late 80s and early 90's. Almost all investment and financial institution ads looked like this. Both the style of filming and the overall astetic with the excessive cherry stained woods and veneers, green or ruby carpet and brass or gold plate finishes mixed with medium to dark colored stone, are synonymous with this era. This style is about to return after the latest comeback of the monocromatic look with white painted and white washed wood look. Each generation decides to reinvent a style from the past with a twist. We're in the light and bright look right now. Then it'll be mid tones with pastels. And on to the darker tones again.
I found it crazy that in the US they have advertising on television of this type even for doctors,lawyers...how crazy would be if I had to see my doctor advertising himself....
Yes and Amway
Please don't start with that
Same is true for Jim Cramer, Dave Ramsey, Suze Orman, rich dad, poor dad guy… Basically anybody you see on CNBC.
Greed and d love of money.
What UPSETS me is the same energy, scheming, time and resources the put in their schemes they could easily invest the same ans make legit money and reputation instead of d shame
kiente karla dambo greed, no love for people, no brains
I'm Australian , and I love Canada & Canadians . And I am Shocked by that happening in Canada.
Take a CLOSER look at Canadian banks and Mining cos...
"At sentencing, Stanford spoke for the first time in the proceedings, denying that he had ever swindled anyone. He blamed his company's failure on "Gestapo tactics" by government regulators. He is incarcerated at Coleman II USP in Sumterville, Florida; his earliest possible release is April 17, 2105-when he will be 155 years old."
His appeal was denied.
A financial advisor will only do business with, for a company he's getting kick backs with. So go with someone who's known to you or at least you've got to know.
Letting your bank or accountant recommend an advisor they will only advise you on what the bank sells or the FA gets a kickback on.
Simple.
"Behind every great fortune is a great crime"
quote from Honoré de Balzac
Shut up commie
Dexter Morgan tête de linotte.. imbécil bête.. fait silence..
AI AC ah... comme j'aime la france...
1. When quoting others, name your sources
2. This is a categoric statement. So please name the crimes behind the fortunes of Bill Gates and Warren Buffett.
"What does it profit a man to gain the whole world and lose his soul" Mat 16:26. Who needs 7 planes really? That$100m yacht improvement could have bailed him out to pay many off before he was discovered, but no, foolish greed still got the better of him.
Stanford's video looked like a $250.00 production and people believed that as a "slick" sales pitch???
It was the early to mid 90’s… this is what promotional videos looked like
A financial advisor works on commission. A financial consultant works on salary. A big difference.
Unless you are paying the consultant on a per hour basis, they are as biased as a commission advisor
Work, and invest your own money. If one has a lot of money, invest in your own children or in your own family, young and old. Also, invest in your own schools, and Universities. Consider it. I’d create a corporate foundation in order that a few are able to invest, and acquire resources-money and or provisions.
Allen Standford was a really good at stealing because he used established brokers banks and other financial experts to bolster him.
Stanford. No D.
Not good enough
My father lost 200k with stanford, it kinda ruined his life
Is it fun been a billionaire? Yes..It’s fun been a thief, and conman until I got caught lol
I recognized that the narrator for the Stanford commercials was actor Peter Graves.
Allen Stanford is second only to Bernie Madoff in defrauding and stealing investor money. For TD Bank to have done business with Stanford for two decades, knowingly allowing Stanford to further expand his thievery to the United States mainland, is inexcusable. They should be required to pay a percentage back to those who lost money.
With you Jews, it's all about money isn't it?
It should be done in criminal Court not have to get attorney and civil court the wife like with Madoff
I agree
Greedy people invest with scammers.
Update now he is happily married with the new boyfriend from jail
“The poor will always be among us.”
-The Bankers
"the sky is up and blue "
-Person
Cattle
All those powerful words with no details......I am not any kind of investor by any means...but in the first minute talking to him I would have known he was a monumental crook......
Toni Hudson yeah okkkkkkkkkkkk
No qualified financial adviser would suggest you to put all your money in the one place. And even when you don't understand anything about finance as a customer surely life experience tells you not to put all the eggs in the same basket.
These evil people need to be severely punished!
The most harmful people are in the financial top of society
There are no good and bad billionaires, it´s just that some get caught, and some don´t
You know what they say, " behind every great fortune is a great crime!?? LOL I've never heard that before. I guess it must've been before my.time lol
Dana Baby 5tfftttffrfffr r ds. a. a a a a a w. a. a a. a. a. a a a a. a. a a. a a. a. a a. f ii
Dana Baby yz u syxyzyxhxhxyy xxx ycuu uux
It’s what rich people say amongst themselves
Never heard that before too
~Joseph Stalin
"Sir Allen" will have plenty of time to think about how badly he fucked up not only his life, but the lives of all the people he robbed. See you in 110+ years Allen ..... Hopefully TD Bank is also held accountable in some way although I'm not holding my breath.
Yep he threw himself under the bus bigtime.
I have a story suggestion:
Eike Batista
Seen by many as the face of Brazilian capitalism
Bold, extravagant and charismatic, he made most of his fortune during the commodities boom that brought great wealth to Brazil
Listed in 2012 by Forbes Magazine as the world's seventh-richest man, with an estimated fortune of $35bn.
Now serving 30 years in Prison.
Create an investor club, and share information and tips on the best stocks to invest in.
This is only the beginning folks🆘🗃✂
You cannot con a person who isnt greedy or afraid.
This guy is just chilling counting his billions. Guys like these never go to jail... they tell us some bs story
10 percent interest yearly is given in india ffrom a bank by just keeping fixed deposit
Stanford's words are one thing, the wide eyes tell their own story: 'how long can he keep this up?? I don' t wanna go to jail. *HELP*!!!'
those tv channels should be held accountable for conducting their interviews and advertise these Ponzi schemes
Best time of his life he lived as a millionaire and he will spent his last years in jail. Something to think about.
Is 16×9 no longer doing uploads here anymore? I really liked this channel.
Putting himself out front brought him down. Other faceless Canadian banks had no problems with similar operations. Making himself the brand put a target on his back.
treats his employees like family sounds like walmart and they're still in business..so what happen to the 8 billion??????? where did that go did it just disappear into the govt hands or was the stanford sued until it was depleted or did the lawyers get fat off the lawsuits or what.
i just watched this, and i am here thinking the same thing, he wasn't broke when arrested his banking business was in full effect, so why are there people saying they didn't get their money back, i know the government too all the money he had plus properties and anything of value, so what did they do with it?
Good question!
Everything was fine till the gov got involved people could have received there money if wanted, government came in, per usual and people get screwed, per usual lol
@@logantaylor2156 - People who hate the government so much that they are willing to sacrifice their brains and intelligence to maintain their position.
Wow! Who can we trust now? People who saves for their retirement lost all their hard earned money... scary...
Don't trust these people. Just save what you need and put it in the mattress. Simple strategy
I am always amazed that people with a nest egg risk it all for a ridiculous scheme to double/triple their hard earned savings by 10% or more in a short amount of time. That just screams SCAM!!! Its hard to feel sorry for them. So wise to save the hard earned money and so quick to invest it all based on professional looking portfolios and smooth talk. I may be poor (by their standards) but never would I even consider taking such a risk in my later years.
There is NO difference between what Allen Stanford did than what banks are doing with "fractional reserve banking". Take your money, pay you 1% in a CD, while taking ALL of your principle and lending out 100% of your money to other folks at 8% -20% rates while only legally having to keep 10% of your deposit money held in reserve. #itsallaponzischeme
Easier said as an observer, but that is why you should always diversify and learn the skills to invest your own money. However l definitely have empathy with the victims.
That s how u do business. Amazing
😂
Right! At any cost!
The channel's name juvenile and worth a chuckle
😬 ....
Ironic the people who try to pretend to be so generous are usually the biggest thieves.
I would be more generous too if I was giving away other people’s money 😂!
That ones that get scammed in a scheme is people believing they will actually get 20% return on their money.
the ego, proud symbol of standford financial group
The whistleblower guy is not your typical whistleblower he looks like a mean dude but he’s just so honest.
He immediately felt like the Antigua branch was less assuring. That’s a dude with a conscience.
Can we make him pres?
Sooo Sorry Kathleen., I pray the rest of your Life is bearable.
God Bless you!
CNBC should check out their guests more thoroughly.
Former employee gives me Steven Segal vibes.
Any time you are led to believe that you can earn more from one investment company than the banks and other firms, you're being scammed. The investments are riskier, more fees, etc. Especially for retirement accounts.
Asset forfeiture should be illegal. Seizing money is just one way the government feeds its own budget needs...
What's the relevance to this?
I've watched a few of these Greed docos. You can almost spot straight away the traits of wanna be millionaires, the show boating is what gives it away.
Investing rules
1. Every investment is a risk
2. Only invest what u don’t need
3. Diversify
4. Trust no one
5. References
6. 20% returns are a red flag
It’s funny how it’s repeatedly mentioned how Stanford was growing his business. Growing his criminal enterprise is a more appropriate term.
@20:47, How can you Trust someone who talks to you with their eyes closed????
How did they loose almost all their money? Shouldn't the courts have liquidated the assets and seized the accounts giving it back to the victims as much as possible. Where did the money go?
This is the first time I am really hearing the fictitious story about a great man who helped people all over the world. When the Lamblike Beast plus the Scarlet Coloured Beast cannot control a person they rip them to shreds. BUT THERE IS A MIGHTY GOD WHO WILL MAKE ALL THINGS WELL IN THE END!!!!
I saw Stanford in the 90s in Wembley stadium promoting cricket with ten million dollars cash on the stadium pitch☯️
@3:05 such a struggle it was that you chose to relinquish your hard earned it to someone and to a company you did not know -- and when you were "making money" you chose to stay silent, never mind that the gains you were "making" were extraordinary. In fact, that's when you chose to invest more...
Was the money ceased burned down?
Greed
The name Stanford makes him sound trustworthy. Unlike names like Madoff, Morgan and Lynch.
Or Ramesh
@@tavoiaiono7885 lol
Read my comment.
@@safiedler .
What comment
About 20 west indian crickters became millionaires in 1 cricket match againt England . 1 million USD per man for 4 hours of cricket. In 2008
Is that a lot of 💰💰💰
Couple of questions.:
1. Was this conviction for money-laundering or for running a Ponzi scheme?
2. Were there any recoverable assets?
3.An operation of this size needs more than one man to run it. Where there any co-conspirators charged and convicted?
4.Was there a sentencing requirement to make restitution?
7:45 I didn't know Jim Belushi was an Investment Broker