₦airaland Forum

Supreme Court rejects financier Stanford's Ponzi scheme appeal
U.S. News Headlines - Yahoo! News 11-28 10:12
By Lawrence Hurley

WASHINGTON (Reuters) - The Supreme Court on Monday rejected Texas financier Robert Allen Stanford's bid to overturn his conviction and 110-year prison sentence for running what prosecutors called a $7.2 billion Ponzi scheme that bilked investors in 113 countries.

The justices left in place the imprisoned Stanford's appeal of an October 2015 ruling by the New Orleans-based 5th U.S. Circuit Court of Appeals that upheld his 2012 conviction and sentence arising from one of the largest such frauds ever uncovered in the United States.

Federal prosecutors said he ran a scam for two decades that defrauded some 30,000 investors and centered on the sale of fraudulent high-yielding certificates of deposit through his Antigua-based Stanford International Bank.

They said he used investor funds to make risky investments, pay bribes and fund a lavish lifestyle including mansions, yachts and private jets. Authorities uncovered the scheme in 2009.

Once considered a billionaire but later declared indigent, Stanford was convicted by a Houston jury in March 2012 on charges of conspiracy, wire and mail fraud, obstruction and money laundering.

"I didn't defraud anybody," he said at his sentencing.

Stanford, 66, is housed in the high-security Coleman II federal prison in Sumterville, Florida. He is not eligible for release before 2105, according to the Federal Bureau of Prisons.

The appeals court rejected his arguments that he was not competent to stand trial, prosecutors did not prove their case, the sentence was too long, and the trial judge was biased.

A Ponzi scheme is a fraudulent investment operation promising high rates of return with low risk to those who invest. Ponzi scheme operators skim investor cash into their own pockets, while paying early investors with money from later investors. A Ponzi scheme requires a constant flow of new investment money or the whole thing collapses.

The U.S. Securities and Exchange Commission filed related civil charges over Stanford's fraud. A court-appointed receiver has been liquidating Stanford's companies.

In a separate Stanford-related case, the Supreme Court in 2014 ruled that investors in the Ponzi scheme can sue lawyers, insurance brokers and others who worked with him.

In September, insurance brokerage Willis Towers Watson Plc agreed to pay $120 million to settle one of the lawsuits brought by former investors.

(Reporting by Lawrence Hurley; Additional reporting by Jonathan Stempel in New York; Editing by Will Dunham)

Please friends which colour combination will perfectly match with this Gate?..please it's also same colour with living room door and kitchen exit door....
kindly assist.

Princedapace:
Just for your hatred for IPOD...you dey suffer

Hahahhahahahahaahahhahahahahahaha ...we are funny in Nigeria o

It's not hatred but just avoiding full blown civil war....
You might not actually understand but I did my NYSC in Imo State and I love it so much.I cannot withstand it to wakeup one day and realize such beautiful people are no more part of Nigeria.
I m saying this from my mind, this regime will be over someday but let Nigeria remain as one..

The government is pushing it's citizens to the wall....
Why I won't suggest Occupy Naija is because of IPOB not to take advantage of it,,

chipsypop:
SCAM!!! They gave me 6gb for 1500 but my data usage meter read only 3gb when I exhausted the data in less than 3 weeks.

That's true.. The data will payoff only on BB phones but other fone is zapping.

What I need is colour combination for my house.. I want it beautiful but the area gat many projects going on so dust na wahala for now.
Please anybody with color combo ideas should kindly advice...

My Dear OP, life is give and take. You dropped out of school but you are lucky to make it the other way round.. What exactly has she equipped you with to face the up and downs of life. She never give you education nor she have a business, trade or skill which she taught you how to do, in other to establish your own life.
Support your mum OPs because you will be rewarded for that, your kind heart truly amaze me.

Awon omo aye..

OP I always share same view as you do until when mumcy said it's haram (forbidden )..
I wish I am a pilot and would have used that as an excuse for contract marriage..
It's Haram in a nutshell.

Four years of licenced "F" congratulations guys...

Christianity is Fraud

ShiaMuslim:
there are no Shia in Libya. care to explain how Gaddafi fell because of what you call "Shia hypocrisy"? it was Sunni Wahhabi countries (particularly Qatar) that supported the NATO campaign against Gaddafi. they even bore the cost!!!

Saddam used chemical weapons to kill his people. do you expect the Shia to stand up and fight for him when the Americans invaded? of course they will view the American intervention as karma. after all, at a point, Saddam was America's boy whom they supplied with deadly weapons to use against Iran in the eight years war. so it is good riddance to bad rubbish. he was a tyrant and tyrants and brutes dont end well throughout the course of human history.

Lest I forget, was it not from military bases in Sunni countries (Saudi and Qatar and Kuwait) that the USA used to attack Saddam? It was Sunni against Sunni!!! So why blame Shia?

Aleppo is under the control of Wahhabi terrorists. do you expect the Syrian government to fold its arms and watch them take over its second largest city in the country? are you no longer a fan of "constituted authorities"? you condemn Sheikh Zakzaky and his IMN because his followers hold religious processions not permitted by the state. but you support Sunni Wahhabi terrorists armed to the teeth invading a city in Syria. so who is the sectarian hypocrite?

Your Analysis is cool but not correct....
General Adnan Thabih is an Iraqi Sunni jailed by Saddam and later was used to play active role in the fall of Saddam, he was also used to convince Sunni tribes men to support the fall, though he later regretted and condemn his role because America Installed Shi'ite Generals which they starts recruiting Shi'ite militia into the Army and Police force that why Iraqi fell into the hands of the Shi'ite till date. No doubt, Iraqi War (Desert Storm 2) radicalized Muslim world and caused a very big gap. Less i forget, you said something about Saddam using chemical weapon to kill his own people.. hmm! that is what you are made to believe because no weapon of mass destruction was found in Iraq till date which is what the west used to justify their Iraqi invasion though most have come out openly to say sorry.
Shi'ite can never take control of middle east, Yemen and Syria will never fall to the hands of the Shi'ite no matter what.. InshaAllah
Shi'ite hypocrisy will never allow them to see the real reason behind Iraqi and Libya Invasion by the west. '''

ShiaMuslim:
this is a Wahhabi Takfiri talking. the wahhabi is scared and suspicious of the intentions of all else who are not wahhabi, while what he is scared of others doing to him, he engages actively to do unto others. no worse example of double standards and hatred.

Wahabi Takfiri or not, Shi'ite are always hypocrite..
Saddam Hussain fell because of shi'ite hypocrisy and collaboration..
Gaddafi Libya fell because of shi'ite hypocrisy and collaboration..
Allepo is under heavy bombardment day in day out because of Shi'ite hypocrisy and collaboration....
Many great muslim scholars have died due to Syria hypocrisy and collaboration..
Shi'ite is very evil..

Firefire:
Allah will judge this injustice and crime against humanity.


Hell-Rufai, posterity will surely judge you, when your day of reckoning comes.


SO SAD... Yet, our deaf and dumb President refused to say a word on this GENOCIDE.

Allah (SWT) will surely reward those behind it.
Shi'ite all over the world are known to be hypocrite.
They would one day be backed by Syria and Lebanon to take over the control of Zaria..

Please which channel are you guys watching this match....

somebody1234:
I dont see myself acquiring skills that can put food on the table, what i basically do is draft letters, reports, print, photocopy, create invoice, manage the office sharepoint and purchase office supplies.
which to be honest do not require specialised skills. I am just worried, i dont see any special skills been added to me. it is like am not growing and learning anything for the past 4 years, other than the pmp and prince2 certification i acquired
i dont see any additional benefit.

The funny part is the pay is not so bad i go home with 387k every month exluding benefits and bonuses.

As a man i always believe one should always learn a skill in event of a job loss he would be able to establish himself from that skill. This admin is not a man job, plus you find yourself being distracted and doing
stuff for others instead of yourself.

It's a great deal if you cannot acquire new skill at place of work. You need the special skill to establish your own company after ten years of working.
My theory is; If you are working with a company and after exactly ten years you cannot stand on your own to establish your company or become a consultant afterwards, then your current job do not worth it.
My take home 'some' month is higher than what you stated but I quit because the work is giving me a nightmare. It's a routine work with no new thing to learn.
Please don't quit, draw a plan and see how it's going to be, you are still young with a good CV.

WAP TV Presenter (Vero) said Trump ordered all the journalist out during the meeting.. hmmmm Nigeria with quark journalist everywhere..

Many more sector need to be raid
I don't know what concerns pure water, chicken egg even the so called 1 minute passport with Forex
Anybody taking advantage of this recession will surely be judge by God.

This is not the right time to talk against MMM at least let it be after recession the elite plunge us...

One man is not enough to determine the destiny of our world..... To hell with Donald trump.
The Muslim world , Africa and the rest of the world will clinch their fist until Trump brings to the table what he has in his cupboard. ...

sekundosekundo:
If he love you, let him pay your....

Please stop trying to represent God with image or picture again..
#IAMNOTAFANATIC

caneberry:
Dear Microbox, Can i use statement of result for my degree certificate pending till i get the original?

Yap... Even if you are still serving, you can apply. The selection process give a considerable time for you to get your documents together.

Ndaife:
please will it still be possible because I have hit the final submission button, is it still possible to ad my Resume

Yes.. The application is still on

Ndaife:
please I didn't uploaded my CV during the application, I uploaded the SSCE, NYSC cert, and Statement of Result (BSC), it was after submission that i remembered I didn't include my CV, pls What will I do? I urgently need ur response

Login to your account and upload whatever.... ok

dollyjoy:
I don't understand,is it about her outfit or what? There is absolutely nothing wrong with what she put on.

All the commenters decided to ignore her and comment about the car and the surrounding.
LOL.. the guys coded quickly and decided to ignore her.
Too funny..

Why spending up to 30 min on a pedestrian bridge?
Please what can cause delay on the bridge?
Afonja over to you...

Everybody loves Esperanza Guerrero but Ernesto de la Colina don't like her because he thinks she's to soft friendly and generous...He love tough women..
Moral:Human being are wired differently.

The most funny thing about Shiite is that, they have beautiful intelligent educated and loyal girls.
Don't try to argue if you are not versed in your religion even if you are Sunningdale Muslim because they study alot.
But... Fuc.k Shiite.

To those applying, everyone must work together, as in,, have a dedicated thread even after the text to complain, lament and keep posting on how your life depend on the recruitment and once in a while it must be hitting front page. Daily Trust News paper came to our rescue to publish the figure of those applied, some comments made on social media and how very hopeful we are. After alot of pressure, DR called for the second text at Queens College.

Eaa247:
Do u tink Gmat is needed for those that are applying for experienced position?

Yes both Graduate trainee and Experience wrote same text at Queens College Lagos..
I bet you its not something to be worried about.. its during the interview they will ask you more question relating to your qualification. GOOD LUCK.

Please stop quoting me and concentrate on your application ok. The battle is not now but later.

Note guys: DPR is not bias..
Went for the graduate trainee 2009/2010.
Passed the 1st and 2nd stages, went for interview at VI Lagos and everything went very well.
Please your contact address should be reachable cos that is the medium they will use to send your appointment letter.
Hmmm everything happen for a reason!

Modified

To those applying, everyone must work together, as in,, have a dedicated thread even
after the text to complain, lament and keep posting on how your life depend on the recruitment and once in a while it must be hitting front page. Daily Trust News paper came to our rescue to publish the figure of those applied, some comments made on social media and how very hopeful we are. After alot of pressure, DR called for the second text at Queens College.

Gmat is always a Gmat except for little modification. The hard copy (the one you see at NYSC Camp).

See you guys when the interview approaches for more hint.. InshaAllah