The transcript for the trial of debased CEO, Allen Stanford with all the double cross, back-stabbing, “don’t blame me, blame him” speeches is reading more like the script for an episode of Spartacus than anything to do with finances.
In the most recent sitting of the court in the case of the U.S. v. Stanford a former manager claims that the day to day running of the Stanford Financial Group was handled by former CFO James M. Davis (now turned stool-pigeon for the prosecution).
Davis pleaded guilty to his role in the alleged scheme and testified as a government witness in the trial, now in its fourth week. “Follow the money,” Davis told jurors, pointing across the courtroom at Stanford.
Jurors previously heard Davis testify that Stanford was the mastermind and prime beneficiary of an alleged $7 billion investment fraud centered on what the government claims were bogus certificates of deposit at Antigua-based Stanford International Bank Ltd.
There was also much stated about Stanford’s role. His absentee status. His over-involvement in the promotion of cricket and endeavors peripheral to the finance group, like his Island Clubs resort in Antigua.
There continues to be much drama, conflict and previously unheard perspectives as the trial continues.Read More
- Country/Countries: Jamaica