US tycoon charged over $8bn fraud

[Abe]

Texan billionaire Sir Allen Stanford and three of his companies have been charged over a $8bn investment fraud, US financial regulators say.

http://news.bbc.co.uk/2/hi/americas/7895505.stm

 

[marine1]

What is going on in the world?

 

[killadoob]

Dunno but one thing i know for sure is the whole world is corrupt so our government does not seem so bad now

 

[marine1]

Yeah good point. Seems like we are just following international trends...for once

 

[Alan]

That cricket series of his was a joke. If he runs his companies like he did that tournament he must have been committing fraud

 

[milomak]

Man these guys know how to run elaborate pyramid schemes

 

[armitage]

Quite funny how all these ponzi/pyramid schemes come to light when the economy sinks.
Well funny for me(im too poor to invest ), bad for the ppl that were caught up in the scam :/