Post: #1

Largest financial fraud case since the Madoff scandal...

http://www.businessinsider.com/the-once-...ord-2012-1

Post: #2

I wonder how many of the people he defrauded were from recommandations from friends? How many people didn't do their due diligence because this guy was recommend to them by someone they trusted. People lost billions with Madoff this way, and I think it's just another example of how sentiment, or emotion shouldn't be brought into business decisions.

Post: #3

(02-04-2012 06:05 AM)Wizard Wrote:  sentiment, or emotion shouldn't be brought into business decisions.

Absolutely.

Sentimentality and emotions greatly cloud judgement. Bad news in business, and probably a damnably common cause for business failure. Owner can't let go of a bad idea, can't see that an idea isn't going to work out, can't seem to figure out when it's time to call quits.

Maybe I just don't pay as much attention to the news anymore, but why isn't this commanding the same kind of attention as Madoff?

Post: #4

He had to change prisons in late 2009, after a jail fight left him severely injured

Post: #5

Dude got the guilty verdict.

http://www.economist.com/node/21549964?f..._this_week

Post: #6

Most of his investors knew he was shady.

Just like most of Madoff's investors knew he was shady.

Investors just figured, "Hey, my guy is winning by ripping off other people. Cool."

That's why you should have no sympathy for the "victims."

Post: #7

Lots of people attempt ponzi schemes, financial fraud and the like, but the really interesting thing about Stanford was how he basically tried to get his own country, corrupting the Caribbean Island country of Antigua. Lol, they even knighted him. Very ambitious, in a nefarious way.

Pirate of the Caribbean
http://www.vanityfair.com/politics/featu...rd200907-2

Post: #8

(03-08-2012 03:04 PM)MikeCF Wrote:  Most of his investors knew he was shady.

Just like most of Madoff's investors knew he was shady.

Investors just figured, "Hey, my guy is winning by ripping off other people. Cool."

That's why you should have no sympathy for the "victims."

Exactly- this guy was paying rates on jumbo CDs that were far higher than market returns. $100.000+ CDs from offshore banks are bought by sophisticated investors-they knew what was up with this guy for years

Post: #9

(02-05-2012 01:30 AM)houston Wrote:  

He had to change prisons in late 2009, after a jail fight left him severely injured

Shots like this make me surprised Maddof is still alive. There has to be at least one person he ripped off mad enough to try to get a prison gang to do something worse than this to him. Or is he in some sort of luxury prison with other mega-rich?

Post: #10

How much time is he getting? I'm pretty sure he'll be in a low security prison. There's no way he'd survive in general population.