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Born at the Crest of the Empire

Monday, May 11, 2009

Alan Stanford was working for the gov't?

The Independent, teasing a story that will be on BBC's Panorama.
Sir Allen Stanford, the Texan billionaire who ploughed millions of pounds into English cricket, may have been working as an informant for American anti-drug agents in return for official protection which gave him free rein to run his banking empire, it emerged yesterday....

His status as a confidential informant could have secured Stanford a degree of protection from financial regulators such as the US Securities and Exchange Commission (SEC) and may explain why a SEC investigation into his dealings in 2006 was quietly dropped following a request by another American government agency.
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