Stanford talks to BBC about appeal and life in jail
Allen Stanford being treated for injuries after being assaulted in a US maximum security jail
(CNS): In the first interview since he was charged with a catalogue of offences in 2009 relating to a massive Ponzi scheme, former billionaire Allen Stanford has spoken to the BBC, continuing to claim he is innocent of the fraud charges he is convicted of. Serving a 110 year sentence in a maximum security jail, Stanford, who was based in Antigua before his arrest, spoke with Mark Chapman on the BBC’s sports radio station, 5Live, about his application for an appeal rehearing and life behind bars.
Stanford (65) claimed he spends every day in jail working on his case and despite losing an appeal in October, he intends to fight on. He said he will clear his name and walk out of the prison where he is serving his sentence. Coleman II federal prison in Sumterville, Florida, is a maximum security facility that houses mostly violent offenders.
“I want to be back in the Caribbean, that’s my favourite place in the world and I love the people in the West Indies, they’re my second family. I love Antigua, I miss it greatly,” he told the BBC. “I know it’s going to happen, so it’s not a dream, it’s reality and it’s right around the corner so yes, I think about it very, very often and I have a smile on my face, and I know it’s going to happen. And I feel very confident it’s going to happen very, very soon.”
The convicted con man who is said to have defrauded investors of $7bn insists he stole nothing and was made a scapegoat for the financial crisis in 2008 by the US authorities and to make up for their failure to detect infamous financier Bernard Madoff’s record $65bn fraud.
In the exclusive interview, in addition to talking about his trial, the allegations and his continued efforts to clear his name, the former business man also describes the violence he has witnessed and been subjected to since being incarcerated. He describes being assaulted by fellow inmates in 2009 while still on remand and said the treatment he received by the authorities after the attack was “barbaric” and the jail as “horrific”.
Stamford said he was inside a four-man cell with nine other inmates when he was attacked from behind.
“Some guys slammed my head into a concrete wall, split my skull open and then proceeded to put me in a choke hold … and then they stomped on my face and broke 32 bones in my head and face … After my brain swelling went away five days later they did an eight-hour operation to repair the damage,” he said.
In 1991 following a number of business failures Stanford founded Stanford International Bank in Antigua, where he laid the foundation of his empire and became the island’s largest employer. Living an extravagant, jet-setting lifestyle, in which he enjoyed power and privilege, he also got behind a scheme to reinvigorate Caribbean cricket. But suspicions he was treating depositors cash at the bank as his own and selling risk deals as safe investments, the SEC filed a civil complaint and the empire came tumbling down.
However, Stanford maintains he did nothing wrong.
“This is the biggest unjust act ever committed by the SEC and probably by the Department of Justice in the history of the US. As I am sitting here right now, and as God is my witness, I did not misspend one penny ever. What I earned, I earned legally, ethically, honestly,” he told the BBC.
Refusing to apologise to his victims he blamed the US authorities for the missing cash and described the receivership of his company as “a court-sanctioned theft of unimaginable proportions”.
Read full BBC report: Defiant US fraudster Allen Stanford vows to clear name
Listen to the full interview on the BBC’s 5Live sport from 21:00 GMT on January 11
Category: Crime, USA, World News
No one cent was lost his conviction is a sham just like Madoff when the numbers were run not one cent lost but Bernie wanted out so he pled guilty to get away from the users and suckers in his life Stanford on the otherhand did nothing wrong except get good deal from corrupt men
Shocked at his appearance. I understand that in some cases a prison term is appropriate but does that mean the state ceases to have a duty of care towards those it incarcerates? It all seems so uncivilized.
The interesting thing about Stanford Financial is that it had over US$50 billion under management. That included stocks, bonds, precious metals, cash and Antiguan CDs.
Every share of stock, every bond, every ounce of gold and every cent of cash was returned to it’s rightful owners.
It was only those who invested in the Antiguan CDs who lost their money.
He’s obviously delusional, or full of it, or more likely both.
You are referring to Stanford right…? ‘Cos there is another who fits those sentiments.
Allen Stanford’s “empire” may well have been based in Cayman. In the early 1990’s when he was seeking a Caribbean base, he applied to the CAACI to register his aircraft here. After due diligence checks, the then-DCA decided to reject the application. Soon after, the aircraft were registered in Antigua.
Who knows, had his aircraft been registered here, he may have based his Stanford Financial “empire” here. No doubt the end would have been the same and clearly we would have been impacted similar to Antigua and other Eastern Caribbean islands.
If he had been based here at least we’d have had a new cricket stadium 🙂 Seriously, the guy is a complete arse and in this case the CAACI did a good job.
Yes, and his new best friend and beneficiary would have been you know who, and world travels in private jets would have started sooner.
He’ll take his “my hands are clean and my heart is pure” message to the grave no doubt, even though all the evidence states otherwise. Some con-men never stop: perhaps he has finally conned himself.
You are quite right 9.08 and Stanford will also be doing that.