WASHINGTON – For years, there were red flags — so many they could have massed into a crimson blanket.
As with the Bernard Madoff case , the scandal surrounding billionaire R. Allen Stanford now seems clear and obvious in hindsight. Yet Stanford managed to run his alleged scheme even while the Securities and Exchange Commission and other regulators had him on their radar screens and investigated his businesses. Stanford wasn't charged until last week. From his tiny accounting firm's office near a North London fish-and-chips shop to certificates of deposit promising outsized returns sold by a bank in Antigua, ample warning signs over the years suggested Stanford 's business wasn't what it seemed.
Full Story: SEC missed numerous red flags surrounding Stanford (AP)
As with the Bernard Madoff case , the scandal surrounding billionaire R. Allen Stanford now seems clear and obvious in hindsight. Yet Stanford managed to run his alleged scheme even while the Securities and Exchange Commission and other regulators had him on their radar screens and investigated his businesses. Stanford wasn't charged until last week. From his tiny accounting firm's office near a North London fish-and-chips shop to certificates of deposit promising outsized returns sold by a bank in Antigua, ample warning signs over the years suggested Stanford 's business wasn't what it seemed.
Full Story: SEC missed numerous red flags surrounding Stanford (AP)
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