WikiLeaks: U.S. Knew About Disgraced Billionaire Stanford Long Before Arrest

[EFerrari]

WikiLeaks: U.S. Knew About Disgraced Billionaire Stanford Long Before Arrest
Dec. 20 2010 - 5:58 pm



Last year, Texan billionaire Allen Stanford was charged with operating a multibillion-dollar fraudulent investment scheme; he’s been in custody ever since and faces a trial next month. However, a WikiLeaks cable released today shows that U.S. diplomats had their eye on the disgraced financier as far back as 2006 — three years before the SEC charged him with any crime.

In a May 2006 dispatch from the U.S. Embassy in Bridgetown, Barbados, an unnamed diplomat describes a fundraising event for West Indian cricket, one of Antigua resident Stanford’s pet causes. The cable notes that U.S. Ambassador to Barbados Mary Kramer “found herself seated at the head table, along with Allen Stanford.” Alongside the diplomat’s description of the event is a telling aside (emphasis mine):

(Note: Allen Stanford is a controversial Texan billionaire who has made significant investments in offshore finance, aviation, and property development in Antigua and throughout the region. His companies are rumored to engage in bribery, money laundering, and political manipulation. End Note.)

The cable goes on to detail some of Stanford’s investments, including tourism projects in the Caribbean and plans to expand a regional airline. At the end of this dispatch, the diplomat included a further note of warning, including what was effectively a ban on any charity photo opps alongside the banker.

http://blogs.forbes.com/clareoconnor/2010/12/20/wikileaks-u-s-knew-about-disgraced-billionaire-stanford-long-before-arrest/