Editorial | Chron.com - Houston Chronicle: "There’s little to praise in the conduct of New York’s confessed mega-Ponzi schemer Bernie Madoff. But you can say that he owned up to bilking billions of dollars from investor victims that included educational institutions and charitable foundations. At least Madoff didn’t insult everyone’s intelligence by adopting the weepy, whiny professions of ignorance about financial malfeasance and concern for devastated employees so routinely uttered these days by CEOs caught with their financial pants down.
The “I know nothing about how my company runs” line was on prime display this past week with a well-orchestrated performance by 59-year-old R. Allen Stanford for reporters at the office of Houston attorney Dick DeGuerin. Stanford, a quirky Mexia native who built a massive and secretive investment empire based on the Caribbean island of Antigua, is accused by the Securities and Exchange Commission of lying to investors in offering improbably high returns on their money. The feds have frozen Stanford’s company and personal accounts, claiming an $8 billion fraud on investors."
The “I know nothing about how my company runs” line was on prime display this past week with a well-orchestrated performance by 59-year-old R. Allen Stanford for reporters at the office of Houston attorney Dick DeGuerin. Stanford, a quirky Mexia native who built a massive and secretive investment empire based on the Caribbean island of Antigua, is accused by the Securities and Exchange Commission of lying to investors in offering improbably high returns on their money. The feds have frozen Stanford’s company and personal accounts, claiming an $8 billion fraud on investors."
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