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Allen Stanford: The Lord of the Lies
Jul 8, 2024
A man named Allen Stanford, bankrupted in Texas, starts an off-shore bank in Antigua, using client money for personal luxuries like private planes. He bullies coworkers, makes blood oaths with regulators, and faces reality during the 2008 financial crisis
44:55
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Quick takeaways
- Allen Stanford built his wealth through a Ponzi scheme using offshore banks.
- Stanford's lavish lifestyle and philanthropic gestures masked his fraudulent financial dealings.
Deep dives
The Rise of Sir Alan Stanford and His Offshore Banking Scheme
Sir Alan Stanford, a Texan billionaire, made a grand entrance into Lord's Cricket Grounds in London, flaunting his offshore banking wealth. He proposed a cricket match with his team, the Stanford Superstars, against England, offering a massive cash prize. Utilizing his offshore bank in Antigua, he ran a Ponzi scheme, promising high returns to clients but using new investors' money to pay off older ones. This scheme eventually unraveled, leading to his downfall and imprisonment.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode