Wednesday, February 18, 2009

Has the SEC Lost the Scent on Allen Stanford?

Have you seen this man?

Yesterday the SEC pulled out all the stops to announced a three-year-delayed securities bust, involving Allen Stanford, whose $8 billion financial empire is allegedly infested with fraud. Well, guess what? Apparently Stanford has read all that terrific media, because he has gone missing.

Bloomberg says that the crackerjack SEC enforcers have lost track of the gent. Bloomberg reports:
“We don’t know where he is, quite frankly,” said Rose Romero, director of the SEC’s office in Fort Worth, Texas.
Gee, you'd think that the feds would keep tabs on someone engaged in a "massive, ongoing fraud" of the Bernie Madoff variety, as this one is supposed to be. After all, they might flee the jursdiction. Duh.

© 2009 Gary Weiss. All rights reserved.

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