Surprise: Stanford Under Federal Drug Investigation


We’ve been sort of dancing around this question all day, wondering how much drug money Sir Allen Stanford managed, and how much of that money helped finance the federal debt. But let’s just cut to the chase, he was probably directly involved in drugs. Good, got that out of the way.

ABC: Authorities tell ABC News that as part of the investigation, which has been ongoing since last year, Mexican authorities detained one of Stanford’s private planes. According to officials, checks found inside the plane were believed to be connected to the Gulf cartel, reputed to be Mexico’s most violent gang. Authorities say Stanford could potentially face criminal charges of money laundering and bribery of foreign officials.

Authorities say the SEC action against Stanford Tuesday may have complicated the federal drug investigation.

Huh. Perhaps whoever was behind this “federal drug investigation” was who called the SEC off the case back in 2006, maybe.

But the bottom line is that a guy in the drug trade, with amazing connections to politicians (the latest are Bill Clinton and Nancy Pelosi), was treated with kid gloves by regulators, who could’ve easily nailed him first but… didn’t. But maybe that’s just a coincidence.