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Allen Stanford: Free Because War on Drugs Trumps Financial Fraud

How important is the War on Drugs?  It's so important that the SEC allowed investors to lose billions of dollars in a Ponzi scheme: Sir Allen Stanford, who is accused of bank fraud, is the subject of an investigation by the BBC's Panorama. Sources told Panorama that if he was a paid anti-drug agency informer, that could explain why a 2006 probe into his financial dealings was quietly dropped. Sir Allen vigorously denies allegations of financial wrongdoing, despite a massive shortfall in his bank's assets. But the British receiver of his failed Stanford International Bank - based in Antigua - told Panorama that the books clearly show the deficit. Read the rest here.

Full post as published by Crime & Federalism on May 11, 2009 (boomark / email).