Credit Crunch – villain number 2: Allen Stanford

 

alcatraz by vgm838 on flickr

alcatraz by vgm838 on flickr

The financial crisis has now claimed what is currently believed to be its second most important villain to date (after Bernie Madoff) – Allen Stanford.  I can’t comment on his guilt but he sure appears to have a colourful and dodgy background. He faces up to 250 years in the slammer.

The word villain appears to be distinctly valid in this case: 

rascal, rapscallion, rogue, scamp, scoundrel

I doubt he’s in Alcatraz, but it’s taken a long time to get him inside.  There is good coverage around, especially in Pirate of the Caribbean, a Vanity Fair article.  Here’s some of the rest:

• The Guardian: US prosecutors charge Allen Stanford with turning bank into $7bn pyramid scheme, Allen Stanford: countdown to court, Key players in the Allen Stanford affair

Judge orders jail for Stanford after indictments

The indictments

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