In First Interview Accused Financier Denies Ponzi Scheme, Drug Cartel Connection
Flamboyant financier ‘Sir’ Allen Stanford expects to be indicted by a federal grand jury in the next two weeks, he told ABC News in an interview in which he cried, denied wrongdoing and threatened to punch his questioner in the mouth.
“I would die and go to hell if it’s a Ponzi scheme,” Stanford said in reaction to civil allegations from the Securities and Exchange Commission that he bilked thousands of customers in an $8 billion fraudulent scheme involving “self-styled certificates of deposits” with “improbable” rates of return.
“Baloney. Baloney,” Stanford told ABC News. “It’s not a Ponzi scheme. If it was a Ponzi scheme, why are they finding billions and billions of dollars all over the place?”
ABC 4/6/9, video of interview available
H/T Tupelo Talk