Allen Stanford Was ‘US Government Informer’

The SEC complaint filed in federal court in Dallas, Texas, said that the SIB is operated by a close circle of Stanford's family and friends. Its investment committee, responsible for the management of the bank's multi-billion dollar portfolio of assets, is comprised of Sir Allen; his father who resides in Mexia, Texas; another Mexia resident with business experience in cattle ranching and car sales; Pendergest-Holt, who prior to joining SFG had no financial services or securities industry experience; and Davis, who was also Sir Allen's college roommate.(Photo: sportingo.com)   A (BBC) Panorama investigation has suggested that Sir Allen was shielded from an earlier inquiry into his activities because he co-operated with a US Drug Enforcement Administration (DEA) attempt to track money laundering by Latin American drug cartels.

US officials closed down his banking activities in February, alleging a vast fraud centred on his Antigua-based offshore bank. Sir Allen, 59, previously most famous as the sponsor of the Twenty20 cricket tournament, has vowed to clear his name.

No criminal charges have yet been filed but the US Securities and Exchange Commission described his activities as a “massive Ponzi scheme”.

A former law enforcement official said in February that the FBI and other agencies started looking into Sir Allen’s possible involvement in money-laundering in the 1990s but could not find sufficient evidence to charge him. Read more of this post

Bolivian President Says He Won’t Let DEA Come Back

Bolivian President Evo Morales expressed hope Monday for improved relations with the United States under Barack Obama’s presidency but said he will never allow the US anti-drug agency to resume operating in his country.

The socialist leader, a close ally of Venezuelan Presiden Hugo Chavez, accused the Drug Enforcement Administration of “polotical aggression” in Bolivia, which is a major sourc of coca plants, the rwa ingredients for cocaine. Morales said his government would set up a new intelligence operation involving the military and police to fight drug trafficking in place of the DEA whose Bolivian operations he suspended November 1.

Morales, the former leader of a coca growers union, also said Bolivia will seek to remove coca leaf from the UN list of prohibited drugs. While coca can be

turned into cocaine, Boliians use the small green leaf in its less-potent natural form as a traditonal tea or for chewing. Bolivia-US relations have deteriorated in recent months as Morales’ government halted DEA activites and expelled US Ambassador Philip Goldberg, accusing him of spying and involvement in anti-government protests in the eastern lowlands.

 The US govrnment has denied helping Morales’ opponents and warns that ending the DEA operations will esult in even more cocaine being produced in Bilivia and shipped to the other countries. the State Department did not have any comment on Morales’ latest statement.

Repeating his allegations, Morales announced the ban on DEA operations when asked at a news conference whether he would agree to a return of the DEA after Obama takes office.

“The DEA will not return while I am still president,” Morales said. “The DEA … had an intelligence structure but it wasn’t so much to fight drugs, it has more to do with the political aggression against my government.  …. In recent times, we’ve seen officials of the DEA involved in political conspiracy.”

Noting that he was the first native Indian president of Bolivia and that Obama is the first black president of the United States, Morales said, “I feel tha the world has started to change.”

“My desire is to improve diplpmatic relations, trade relations, co-operation” with the United Statea, he said.

Morales held the news conference after speaking during a General Assembly debate on UN reforms and acheiving UN anti-proverty goals. He was the only head of state to address the session. All others speakers were ambassadors or lower-ranking diplomats.

Source: Barbados Advocate

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