Heard of gangsters. But not banksters.. Let us call, this particular gangster, as William Baltimore Sit up ,who,has to encounter difficulties and physical strain to indulge in burglary. His loot is a wholesome amount , or some valuable jewellery,or a certain expensive material. If caught , his life is at risk . His procedure should be carried out in the thick of the night ,by breaking open the doors, by negotiating with the watch dogs, and by bashing the security personnel.He can have brief play with the robbed wealth and revel in limited comfort. All goes well , until his stolen goods last, until he escapes the attention of the public and police.His theft will be around $8000 -$80000.
But Our friend , Robert Allen Stanford and three of his companies have defrauded investors in an $8 billion certificates of deposit scheme.He and his family have “perpetrated massive fraud based on false promises and fabricated historical return data to prey on investors”.This silent plodder is the grandson of Lodis B. Stanford, who started The Stanford Insurance company, in the midst of Great Depression. Now , his grandson has amassed $8 billion in the midst of Great world wide Economic melt down.
Shall we praise the Granddad or eulogise the Grandson?
Robert Allen Stanford ,is the first American to be knighted by the British commonwealth nation and was appointed Knight commander to the Most Distinguished Order Of The Nation.He is a philanthropist,a keen sports promoter,a cricket fanatic, educationist,conducts research projects and runs St Jude’s hospital for children.
Charity begins at home ,is the common saying. Fraud and deceit originate from home and as a cover up to these ruthless deeds ,charity is planted forcibly elsewhere.
Incidentally the motto of Stanford is Hard work,Clear vision and value for the Client.
His hard work is manifested in drawing schemes , in cheating the investors and duping them of their hard earned money.
His clear vision is visible in his modus operandi, by serving false promises and proposing unimaginary returns .
His value for the client , is best exhibited in theat he produces returns that are simply too good to be true.His bank does not operate like a standard bank.The SIB ‘s documents show scant details on how the bank has acheieved these returns.
He took care of his motto, but the greedy investors misunderstood the whole concept and stand fooled,.
