20 February 2009

Texas billionaire accused of fraud found


Texas billionaire Allen Stanford has been found in the US state of Virginia and served with civil legal papers from the Securities and Exchange Commission, the US Federal Bureau of Investigation (FBI) says.

FBI spokesman Richard Kolko said FBI agents, acting at the request of the SEC, served Stanford papers on Thursday in Fredericksburg, Virginia.

Stanford is not under arrest and is not in custody.

The SEC charged Stanford and three of his companies on Tuesday with committing an $US8 billion ($A12.52 billion) fraud that lured investors with promises of improbable and unsubstantiated high returns on certificates of deposit and other investments.

He has not been charged with any crime. (Obviously too many people are involved or has a 'good' Lawyer)

20 Feb 2009.

People that do Crimes that involve monies taken from others FRAUDULENTLY, DO NOT receive punishment as a result. This is the general rule for the 'in crowd',

as the Politicians, Law Makers and Business People are a close knit community that can be called the 'UNTOUCHABLES'. Realistically which EVER country you are in, the Law SUPPORTS these types of crimes.



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