by Joel McDurmon
If found to be true, what better credential for a guy wanting to run the country, the Fed, and Social Security!PoliticalNews.com reports,
Mitt Romney and his son Tagg Romney have
been implicated in a 8.5 billion dollar ponzi scheme with Wall Street
investors Allen Stanford and James M. Davis.
The pair are not cleared including their
three partners in a court document verified, ongoing legal proceeding
involving selling fraudulent CD’s to potential investors.
The statement of fact, includes SIBL,
Stanford International Bank, SGC Stanford Capital Management and the
associates R. Allen Stanford, ( Allen Stanford) and James M. Davis stole
money from investors through fraud. The group bilked investors by
diverting funds to their own lifestyles through bonus money, salaries
and compensation packages.
The Stanford Financial Group now in
receivership headed by Allen Stanford sold investments described as a
“well-diversified portfolio”. Instead Stanford diverted the money to
finance his own lavish lifestyle which include: jet planes, yacht,
pleasure crafts, luxury cars, homes, travel on a company credit card. . .
.
Mitt Romney and Son Tagg in 2008 invested
in Allen Stanford’s ponzi scheme to the tune of 10 million dollars
initially in Solamere Capital a seed investment and received 1 million
in returns. Tagg Romney joined in to help Solamere Capital located in
Charlotte, North Carolina with three other prominent brokers.
Compare ABC News’s report here.Continue Reading on www.politicolnews.com
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