Video Top 10 Program Schedules News Events What's on MM
Home
Top 10 Videos
Music Video Archives
Caribbean Kitchen
Caribbean News
Law & You
Interviews
Events
Program Archives
The Store
Muzik Board
Social Networking
Press Releases
Members Videos
Become A Member
VIP Tour
Subscriber Videos
Subscribe Now
Forgot Password
Applying for A Student visa
Admiral Bailey, Yellowman, Allison Hinds, Coco Tea, & many more live
Mavado Live in LA courtesy of Hype TV
  About Us
  Contact Us
  Chatroom
  Guestbook
  Advertise with Us
  Related Links
  Search
 
 
 
News
 
Allen Stanford was chief faker, ex-finance chief testifies

Friday, February 3, 2012

Allen Stanford directed his executives to falsify investment returns, threatened to
fire them if they revealed US$2 billion he secretly borrowed from his Antiguan bank
and approved of office affairs, according to witnesses at his criminal fraud trial.

I was involved in faking the numbers, but he was the chief faker, James M Davis,
Stanford Financial Group Co. former chief financial officer, told jurors yesterday at
Stanford's trial in federal court in Houston. He'd been faking even before I came on
board.

Davis, 63, is testifying against his ex-boss and former Baylor University roommate
as part of a plea deal. Davis pleaded guilty in 2009 to helping Stanford swindle investors of more than US$7 billion through bogus certificates of deposit at Antigua-based Stanford International Bank. Davis faces as long as 30 years in prison.

Davis testified that Stanford approved of a three-year affair Davis had with Laura Pendergest Holt, whom he met through a university Bible study run by Davis and his
wife. Holt, who also has been criminally charged in the fraud scheme, was promoted to chief investment officer of Stanford Financial after the affair ended in 2003.

That's good; she'll be loyal, Davis testified Stanford told him upon learning that two of his top lieutenants were having an affair. Davis also told jurors that Stanford
reassured Holt at a private meeting the three had in 2007 that she could trust him that the banks assets were invested as Stanford said they were. Holt has denied any
involvement in the alleged fraud scheme.

 
James M Davis in court
 
 
News Comments
 
 
 
Submit Your Comments
Total: 2 Pages: 1
 
wJVtZTQLnlqZy
F5YZmt Thanks a lot for the blog post.Really thank you! Really Great.
By smashing top seo @ New York 

email@gmail.com
Wednesday, October 23, 2013


 
aePUNesXVypHGQ
fbWcYg I really enjoy the post.Thanks Again.
By Buy Cheap OEM Software @ New York 

email@gmail.com
Wednesday, March 7, 2012


 
Total: 2 Pages: 1
 
 

The opinions expressed on the guest book and comments sections of this site reflects those of the author and does not reflect the opinions of the Editor or Administrator of the Muzikmedia Website. We reserve the right to edit your comments due to lack of space, political and racial attacks, vulgar and obsene remarks. We ask you include your name, email address and other information as requested

© 2004 Muzik Media - Memory Makers. All Rights Reserved.
Graphical Designs, Database & Programming by Gateserver http://www.gateserver.com
Hosting and Services offered by Gateserver.NET network http://www.gateserver.com