Fight rages on for Stanford Victims

Posted by Al Lewis on June 22, 2012
Mr. Ponzi

Angela Shaw came face-to-face with history’s second-largest Ponzi schemer, R. Allen Stanford, and tells about it in my column.

Shaw, whose family lost $4.5 million to Stanford, is the volunteer director of the Stanford Victim’s Coalition and a champion for all Stanford victims.

She has been so dogged that someone made this faux movie poster in her honor.

But the fight is far from over.

So far Stanford victims have collected little to none of the money they invested in bogus Stanford certificates of deposit.

The Securities and Exchange Commission has sued the Securities Investor Protection Corporation, demanding it pay Stanford claims. SIPC has argued that while parts of the Stanford empire are covered by SIPC, the Antiguan bank that issued his dubious CDs isn’t.

Meantime, liquidators hired by the island nation have sued the U.S. Department of Justice attempting to assert their own control on Stanford’s frozen funds.

Click here to read my column on Marketwatch.

2 Comments to Fight rages on for Stanford Victims

stanfordsforgottenvictims
June 24, 2012

If you knew what the majority of victims thought about this conniving woman, you would know how inappropriate your article is and what an insult it is to the vast majority of victims. This woman rides on the backs of others and blows her own trumpet. As for the saviour of the victims….most can’t stand her and want her removed from the US Victims Committee and most victims are not affiliated to her SVC. Your article is a joke, you are embarrassing yourself…learn the facts before you print.

Martin
June 24, 2012

The only person arrogant and narcissistic enough to make that poster would Shaw herself!

This so called unelected leader of Stanford Victims has lied and manipulated herself into a position on the US committee claiming to represent ALL victims.

Let us be quite clear she does not represent myself or any International victim that I am aware of, she represents herself and a small minority of US victims.

Mr Lewis would do well to get his facts straight as to who the heroes and villains are in this Stanford debacle. Ms Shaw is as much reviled by the international victims who she has abandoned as Stanford if not more so.