Some attorney. You pay them all this money to stick around and help you out, but then as soon as the heat gets turned up, they withdraw. In what may have been one of the SEC’s big red flags, Allen Stanford’s attorney recently quit
Bloomberg: As R. Allen Stanford assured clients last week that U.S. investigators were conducting “routine examinations” of his Texas investment advisory firm, a lawyer for his company’s Antigua affiliate was backing out….
The attorney who stepped down was Thomas Sjoblom at Proskauer Rose LLP in Washington, according to a person familiar with the matter. He declined to comment. Stanford spokesman Brian Bertsch referred questions to the regulator.
It’s not clear who his attorney is right now. We’ve yet to even see one of those “Allen Stanford is a respected member of the financial community who hopes to clear this up as soon as possible”. Reminds us of when OJ’s attorney quit right when the initial murder charges were filed.
And here’s a rundown of our Stanford stories so far:
- The SEC whiffs again.
- Stanford had money with Madoff.
- Never trust someone with knighthood.
- How Stanford killed an anti-money laundering bill.
- Allen Stanford, friend of George W. Bush.