Beyond the media darling that a knighthood and the millions splurged on a self-branded cricket tourney produced, those who knew R. Allen Stanford, tell stories of arrogance and intimidating tactics in a behind the scenes glimpse at the real Sir Allen.
While some Antiguans in the island Stanford dominated economically are understandably worried, there are some who tell CWNN that they also feel vindicated, since in their words, they were always concerned about `him.` Others felt the Texas billionaire had it coming and its long overdue.
Yet the power of Stanford is such that few nationals want their names used in print, preferring to remain anonymous while giving mouthfuls on the man who moved to Antigua during the Antigua Labor Party reign in 1999.
Many are scared of repercussions, especially since no criminal charges have been brought against Stanford.
Some simply decline to say anything negative. But the conversation in Antigua dominates the airwaves – from the news, to talk shows to even cricket commentaries.
On an island where Stanford loomed large, several remember him as very smart and laud him for the investment he made on little Antigua and Barbuda, whose economy is propped up by tourism and off-shore banking.
A former top employee of Stanford Caribbean, however, says beyond the brilliance and business savvy, there lay a man with `a very big ego.`
The employee who worked for the company for two years before quitting because of disagreements over specific strategies, told CWNN last night, `Up close he was very charming, very astute, very savvy, very intelligent but a show boater.`
Speaking on condition of anonymity, the employee said Stanford, however, went about business in a very confrontational way at times.
`He was like a spoilt brat at times,` she said `If he gets upset he will make threats, like I will move my business and airline.`
She also disclosed that he referred to Prime Minister Baldwin Spencer as `inept` and was especially upset when the incumbent government decided not to sign on a recent development deal that included the block off of public roads to prevent private citizens from accessing certain beaches.
Still Stanford`s huge investment in Antigua allowed him to hold dual citizenship there, and in 2006, he became the first American to be knighted by that Commonwealth nation and was presented with the honor by the then Governor-General of Antigua and Barbuda, Sir James Carlisle.
Beyond his huge investments in the recent 20/20 cricket matches, Stanford also established a significant presence in golf, polo, tennis, cricket and sailing, sports which are popular among Stanford’s wealthy clients.
Stanford Financial Group was the title sponsor for such sporting events as the Stanford US Open Polo Championship, the Stanford USPA Silver Cup, the Stanford Antigua Sailing Week, the PGA Tour Stanford St. Jude Championship, and the Stanford International Pro-Am. This year, the final event of the LPGA season, now known as the ADT Championship, was set to be renamed the Stanford Financial Tour Championship.
Stanford also sponsors professional golfers Vijay Singh, Camilo Villegas and David Toms as well as Morgan Pressel on the LPGA Tour. In tennis, the company is a sponsor of the Sony Ericsson Open. Stanford also sponsors the Champions Series Tennis Tournaments featuring Jim Courier, John McEnroe and Pete Sampras.
Stanford, 58, has 6 children but is separated from his wife. He was reportedly served on Thursday while driving the car of his girlfriend in Virginia.
He is a graduate of Baylor University and holds a Bachelor of Arts / Science. He comes from old Texan money. His grandfather Lodis was a barber, became an insurance salesman and founded Stanford Financial in Mexia, Tex. 1932.
Allen Stanford`s father James, made fortune during the 1980s snatching up depressed Houston real estate, selling years later when market recovered. He retired in 1993 and gave the then 500-employee company to Allen, who opened offices in Latin America and the Caribbean, increasing the firm’s wealth management operation dramatically and landing himself on the top 400 richest persons in the world.
US authorities now say his fortunes may have been built by perpetrating a fraud similar in scope to Bernie Madoff and may also have laundered money for Mexican drug cartels.
Source: caribworldnews.com
