Allen Stanford used CD funds for cricket, jets-witness
HOUSTON (Reuters) – Allen Stanford funneled $2 billion of investor money from his offshore bank to pay operating expenses at his other companies, including money-losing airlines and his cricket concerns, a former Stanford Financial Group accountant said on Wednesday. Stanford, 61, is on trial in federal court in Houston for leading a $7 billion Ponzi scheme from his offshore bank in Antigua in …
Continue reading here:
Allen Stanford used CD funds for cricket, jets-witness