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The Securities and Exchange Commission's charge in February 2009 noted that Stanford International Bank reported identical returns of 15.71 percent in 1995 and 1996. The agency said even civil defendant Laura Pendergest-Holt -- the chief investment officer of another Stanford unit -- said such a coincidence was "improbable" given the global portfolio.
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Alleged operatives with connections to the Amado Carrillo Fuentes Organization, which for years ran Mexico%u2019s Juarez Cartel, opened accounts with Stanford International Bank.
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During November 1998, new banking laws that R. Allen Stanford helped devise are billed as a crackdown on money laundering. But they also help preserve depositors' secrecy, a key draw of offshore banks.
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Stanford willingly turned over $3 million in alleged drug cartel money at some point in 1999 and drew praise from authorities for helping them. Around the same time, Texas regulators suspected money laundering at the bank and passed their concerns to the federal government. The Drug Enforcement Administration never found a tie, though, and no action was taken.
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Chronicle reporter David Ivanovich's story looked at State Department frustration with Antigua over its banking rules and profiled Stanford's rise from obscurity in Houston to wealth and power in the Caribbean.
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The Securities and Exchange Commission says Stanford International Bank sold more than $1 billion in CDs in 2005, then had similar results in the next two years.
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Former Stanford brokers Mark Tidwell and Charlie Rawl sue the company, saying they left in December 2007 because they had become disillusioned with its practices.
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Stanford International Bank quotes a rate of 5.375 percent on a $100,000 three-year CD, compared with rates of less than 3.2 percent at American banks. The bank reports $8.5 billion in assets.
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An analyst informed R. Allen Stanford and two associates that the Bernard Madoff scandal was going to cost the bank about $400,000, the Securities and Exchange Commission said. In a December 2008 report to investors, however, the bank said there was no Madoff exposure, the SEC alleges.
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The Securities and Exchange Commission alleges multiple violations of U.S. securities laws for "massive ongoing fraud" involving $8 billion in certificates of deposits. It names R. Allen Stanford, three of his firms and two associates. Federal agents raid the offices of Stanford Financial.
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England and Wales Cricket Board says it has severed its ties with Stanford and cancelled all contracts with him.
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By the end of2007, according to the Securities and Exchange Commission, Stanford International Bank had sold $6.7 billion in CDs, its primary form of business.
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Stanford Financial Group's chief investment officer, Laura Pendergest-Holt, is charged with obstruction based on her previous discussions with the Securities and Exchange Commission. It's the first Stanford-related criminal charge.
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R. Allen Stanford and four others indicted.
