Allen Stanford Ponzi Scheme Video Interview

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Analysis:

Allen Stanford, a disgraced financier quickly dubbed the "Mini Madoff" by the national press, talks ... (read more)

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Submitted By:

Realscoop5

Date and Time:

Tuesday April 14th 2009 09:36 AM

Tags:

allen bernard madoff ponzi scheme stanford

Categories:

Finance: Wall Street



Analysis

Allen Stanford, a disgraced financier quickly dubbed the "Mini Madoff" by the national press, talks in this video interview about his businesses. Stanford seems very emotional, which is unsurprising considering the sudden reversal in his fortunes, but could there be a hint of sincerity behind those crocodile tears?

Maybe, says the Believability Meter, but just a hint. Standford adamantly claims his company always had the "hard assets" to back up everything, and the Believability Meter backs him up. But then, Stanford promises to die and go to hell if his business was a Ponzi Scheme, and the Believability Meter thinks he may stretching things a bit. Perhaps Stanford is innocent, but most likely his protestations of innocence rest on some legal technicality. What do you think, is Allen Stanford going to hell?

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