It looks like disgraced billionaire Allen Stanford has been arrested by the FBI. He was arrested for on fraud related charges, which FBI Supervisor Special Agent M. A. Myers would not discuss in detail. Stanford is accused of a $9.2 billion fraud by U.S. regulators and denied all wrongdoing in a interview, fraught with tears, during which he threatened to punch his questioner in the mouth. Of course, couldn't have been considered an act of guilt?Well, he has bigger worries than that interview. It seems the "tax-man cometh." Yes, he and his wife owe the Internal Revenue Service at least $226.5 million -- $110 million in back taxes, $55.8 million in penalties and $60.7 million in interest for the 1999 through 2003 tax years. That alone will send this shyster up the river for years to come. I will never understand why rich people won't pay their taxes.
He has more money woes. According to media reports, the assets of Stanford and his financial groups, based in Antigua and the Caribbean, are frozen while the U.S. Securities and Exchange Commission investigates allegations he ran "a massive Ponzi scheme," a pyramid scheme in which new investors' money is stolen to pay profits to existing clients.
More to come on this story.....
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