Below Nancy Pelosi about to hug & kiss Stanford the big Dem contributor.
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| -Lurid Crime Tales- |
| Stanford May Have Laundered Drug Money for Mexican Cartel |
| 2009-02-19 |
| The SEC's fraud charges may be the least of accused financial scammer R. Allen Stanford's worries. Federal authorities tell ABC News that the FBI and others have been investigating whether Stanford was involved in laundering drug money for Mexico's notorious Gulf Cartel. Authorities tell ABC News that as part of the investigation, which has been ongoing since last year, Mexican authorities detained one of Stanford's private planes. According to officials, checks found inside the plane were believed to be connected to the Gulf cartel, reputed to be Mexico's most violent gang. Authorities say Stanford could potentially face criminal charges of money laundering and bribery of foreign officials. He could face a lot worse then that if he screwed up the Gulf boys drug money. Authorities say the SEC action against Stanford Tuesday may have complicated the federal drug investigation. The federal investigation, however, did not stop Stanford from using corporate money to become a big man at last year's Democratic convention in Denver. A video posted on the firm's web-site shows Stanford, now sought by U.S. Marshals, being hugged by Speaker of the House Nancy Pelosi and praised by former President Bill Clinton for helping to finance a convention-related forum and party put on by the National Democratic Institute. "I would like to thank the Stanford Financial Group for helping to underwrite this," Clinton said to the crowd at the event. Stanford Financial was listed as the "lead benefactor" for the gathering, and Stanford was permitted to address the audience of several hundred. Stanford contributed $150,000 to underwrite the event, said NDI president Kenneth Wollack. More recently, Stanford gave $5,000 to help pay for a luncheon hosted by the group. At the time NDI had no idea of Stanford's trouble, and it is has not had any contact with him since the December event, said Wollack. |
| Posted by:Fred |
| #12 Hugging Nancy Pelosi must be like hugging a popsicle. |
| Posted by: tu3031 2009-02-19 14:53 |
| #11 I can't imagine that money invested in convention parties would generate as much return as money invested in individual politicians. But then, I am a political naif. |
| Posted by: trailing wife 2009-02-19 14:52 |
| #10 the ratio is something like 3:1. More like 10:1 Is it the number bribed per party or the amount 'invested' per party? Amount invested per party. However the money invested in 'GOP' went to individual, high-power pols. |
| Posted by: Pappy 2009-02-19 13:45 |
| #9 Seizure of assets used in drug trafficking is also a ray of hope, as opposed to the non-existent profits in the Madoff ponzi scheme. He has six planes for starters. |
| Posted by: Danielle 2009-02-19 11:28 |
| #8 We can only hope and pray Pelosi's hug was genuine affection amongst close friends. Tying her to a scandal this big would really make my day. |
| Posted by: Danielle 2009-02-19 11:21 |
| #7 Snowy, is that 3:1 ratio normalized for the potential value of the bribed? Is it the number bribed per party or the amount 'invested' per party? And when were the bribes made - for the last few years a bribed Dem was worth a lot more than a bribed Rep. Bottom line - crookedness in politics is independent of party and dependent on power. (Power corrupts; absolute power corrups absolutely.) |
| Posted by: Glenmore 2009-02-19 09:56 |
| #6 I hear that isn't the case, Glenmore; I heard that if you look at opensecrets.whatever the ratio is something like 3:1. |
| Posted by: Thing From Snowy Mountain 2009-02-19 08:53 |
| #5 IIUC he was an equal opportunity briber. Quite a few prominent Repubs received hefty 'campaign contributions'. |
| Posted by: Glenmore 2009-02-19 07:39 |
| #4 Stanford, now sought by U.S. Marshals, being hugged by Speaker of the House Nancy Pelosi and praised by former President Bill Clinton Obviously a man of extremely poor taste. |
| Posted by: Besoeker 2009-02-19 07:25 |
| #3 From now on additional arch-crook like Stanford with mega donation ties to the Dems is going to be uncovered, caught or on-the-run like this sleazy banker. Below Nancy Pelosi about to hug & kiss Stanford the big Dem contributor. |
| Posted by: Mark Espinola 2009-02-19 07:19 |
| #2 As long as he funded the democrats socialist party, he is allright. heh |
| Posted by: newc 2009-02-19 03:17 |
| #1 When Stanford came along and spent 10s of millions funding a cricket competition to rival the Indian professional competitions, I smelled a very large rat. Not least because it had no obvious revenue stream. Unlike the Indians who are wallowing in cash from TV revenues. |
| Posted by: phil_b 2009-02-19 01:04 |