Another scheme!!!!

On June 19, Jeff Sommer interviewed Clifford Kraus in the New York podcast regarding another scheme that was made by a Texas Billionaire named R.Allen Stanford.
Mister Stanford has been "indicted on fraud and obstruction charges". He is the owner of an offshore bank in Antiga, which is supposed to invest in safe investments such as, high yield CD in Latin America and in the USA. But instead he was running a "ponzy scheme" that consist of "buying real estate to operate his organization and also invest in risky investment". The total of the scheme accounted for seven billion dollar, which it said to be less that what Madoff did but still is a lot of money. R.Allen corrupted Mr King, the head of regulatory commissions of Antiga, which made is scheme easier to operate and harder to catch. This ponzy scheme has affected mainly the people from Latin America who actually do not want to have this issue publicized intensively, due to the fact that most of them put those fund offshore to avoid taxes in their own country and the other who might want to get their fund back will not get a lot because some of the money has been frozen by investors fund and the over is "less than 2 billion of recoverable asset". Mr Stanford is said to be in Antiga, and has proclaimed his innocence. He blamed the US government for "cracking down his organization".
Lately the financial world has shown how corrupted it can be. Hopefully solutions will be found to better regulate the investment sector and protect more the investors.