Wednesday, February 18, 2009

Stanford on the lam?

This doesn't look good.

MSNBC is reporting that Allen Stanford tried to hire a private jet to flee the US.

According to ABC News, federal authorities do not know the current whereabouts of Texas banker R. Allen Stanford, who was accused Tuesday by the SEC of trying to bilk some 50,000 customers out of $8 billion. His apparent disappearance comes despite raids Tuesday of Stanford's offices in Houston, Memphis, and Tupelo, Miss.

ABC also reports that federal authorities say the case could grow as big as the $50 billion ponzi scheme allegedly perpetrated by Bernie Madoff.
If Stanford really is on the run, I wonder if he stopped to consider that if he is arrested, no judge in their right mind will let him stay out on bail during his trial.

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