Indicted Billionaire Allen Stanford Owes in Gambling Debts

Allen Stanford

Online gambling websites the world over breathed a sigh of relief upon learning that billionaire Allen Stanford's bank in Antigua had been shut down.  That's because none of them had any money there.

Antigua serves as one of the leading host nations for the multi-billion dollar online gambling industry and Stanford's bank obviously provided the convenience of operating in the same jurisdiction.

"(Allen) Stanford wouldn't deal with anyone associated with gambling businesses because he claimed to be a Southern Baptist," said one operator.

And so after Stanford's indictment earlier this year, while Antigua remained devastated, its online gambling sector felt little if any impact.

Stanford, knighted and considered a prominent financier who sponsored a professional cricket team, was charged with fraud last February.

"Federal agents raided the offices of Stanford Financial on February 17, 2009 and are presently "treating it as a kind of crime scene-cautioning people not to leave fingerprints."

The Securities and Exchange Commission charged Allen Stanford with "massive ongoing fraud" centered on an eight-billion-dollar investment scheme.  Stanford's assets, along with those of his companies, were frozen and placed into receivership by a U.S. federal judge, who also ordered Stanford to surrender his passport.

Ironically, the Southern Baptist who purportedly would not deal with those in the business of online gambling citing "religious reasons" must have had some type of epiphany.  

The Bellagio resort on the Las Vegas Strip sued Stanford in Clark County District Court in Las Vegas on Tuesday, claiming he owes $258,480 in unpaid gambling markers.

The luxury Bellagio resort, owned by hotel-casino company MGM Mirage, said in its lawsuit that Stanford signed for 14 gambling markers between Jan. 15 and Jan. 22.

Such markers are recognized in Nevada law as credit instruments evidencing a gambling debt. The suit seeks payment of the $258,480 plus interest at the rate of 18 percent per year and attorney's fees.

The Bellagio markers have already caught the eye of the SEC, which in February froze Stanford's assets.

Christopher Costigan, Gambling911.com Publisher 

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Proskauer Rose and Allen Stanford

IVIEWIT TRILLION $$ FED SUIT DEFENDANT PROSKAUER ROSE SUED IN GLOBAL CLASS ACTION RE STANFORD PONZI http://www.free-press-release.com/news-iviewit-trillion-fed-suit-defendant-proskauer-rose-sued-in-global-class-action-re-stanford-ponzi-1252249099.html for full press release IVIEWIT TRILLION $$ FED SUIT DEFENDANT PROSKAUER ROSE SUED IN GLOBAL CLASS ACTION RE ALLEN STANFORD PONZI Proskauer Rose Sued in Stanford Ponzi – Blood Oaths with Regulators – Iviewit Suit “LEGALLY” related to NY Supreme Court Whistleblower Christine Anderson Heading to Trial with Judge Shira Scheindlin Whistleblower Suit Set for Trial As the public federal trial of systemic corruption allegations inside the NY State Supreme Court Appellate Division First Department (First Dept) approaches, more bad news for the Proskauer Rose law firm erupted. Last week WSJ reported CFO of Stanford Financial Group, James Davis, involved in the $7 Billion Robert Allen Stanford Ponzi. Davis pleaded Guilty to fed charges while appearing to implicate counsel Proskauer & partner Thomas Sjoblom orchestrating a plan to Obstruct SEC & FBI investigations into Stanford & more. http://blogs.wsj.com/law/2009/08/28/sjoblom-proskauer-rose-face-fallout-from-stanford-affair Christine C. Anderson a former Staff Attorney at the First Dept filed WHISTLEBLOWER allegations in a fed suit slated for trial Oct 13 in US District Court Southern District NY (USDC), Anderson v State of NY, 07cv09599. http://iviewit.tv/press/press1.pdf Anderson’s suit adjudicated by Judge Shira Scheindlin contains allegations of retaliation against Anderson for termination from her job of 6 yrs, after Anderson exposed systemic Whitewashing & Obstruction inside the First Dept, claiming favoritism by the First Dept for favored law firms & attorneys. http://exposecorruptcourts.blogspot.com/2009/04/andersons-10-million-lawsuit-proceeds.html & http://iviewit.tv/press/press2.pdf Anderson’s suit set to bring volcanic like testimony involving public office corruption & testimony by officials of the NY State Unified Court system, including Court of Appeals Chief Judge Jonathan Lippman, Presiding Judge at the First Dept during the firing of Anderson. Along with Lippman will be Defendants in Anderson, First Dept Supervisor Sherry Cohen, Former Chief Counsel Thomas J. Cahill, Hon John Buckley, David Spokony & Catherine O’Hagen Wolfe, Clerk @ US Second Circuit Court of Appeals (USCA), an initial Anderson defendant in her former job as Clerk for the First Dept, now witness in Anderson. Anderson claims Physical Abuse & Harassment by Cohen for her heroic WHISTLEBLOWING, Anderson gave riveting testimony to the NY Senate Judiciary Committee headed by former Proskauer asst Sen. John L. Sampson. Anderson testimony @ 30min http://www.youtube.com/watch?v=HR8OX8uuAbw&eurl=http%3A%2F%2Fiviewit%2Etv%2F&feature=player_embedded Prior to permitting Anderson to trial, Scheindlin marked 7 suits, including Iviewit’s Trillion Dollar suit http://iviewit.tv/press/press3.pdf legally “related” to Anderson. Proskauer Ties to Stanford, Madoff & Dreier The Stanford Ponzi investigation may be the card that knocks down the house of cards at Proskauer. Uncovering of the $65 Billion Madoff Ponzi led the SEC & FBI to intensify investigations into Stanford, ‘Perhaps the most alarming is that Stanford Investment Bank has exposure to losses from the Madoff fraud scheme despite the bank’s public assurance to the contrary’, said the SEC. http://www.timesonline.co.uk/tol/news/world/us_and_americas/article5759709.ece Ironically, Sjoblom worked for the SEC & now is implicated in FBI & SEC actions, advising client Stanford on “how” to lie to the SEC. Huffington Post on Feb 20, 09 claims, Sjoblom, a partner at law firm Proskauer Rose doing work for Stanford’s company’s Antigua affiliate, told authorities that he ‘disaffirmed’ everything he had told them to date…Sjoblom spent nearly 20 years at the SEC, & served as an Asst Chief Litigation Counsel in the SEC’s Division of Enforcement from 1987-1999. http://www.huffingtonpost.com/charles-h-green/mini-madoff-scandal-scale_b_168486.html Bloomberg on Jan 14, 09 states, The week after Bernard Madoff was charged with running a $50 billion Ponzi scheme, Proskauer Rose…offered a telephone briefing on the scandal for its wealthy clients. With only a day’s notice, 1,300 Madoff investors dialed in. ‘This is a financial 9/11 for our clients’, said Proskauer litigation partner Gregg Mashberg…‘People are dying for information.’ http://www.bloomberg.com/apps/news?pid=20601103&sid=aO32KOhrPtRw&refer=us Following the “client” call, investigations began into major “clients” involved in Madoff, Proskauer having perhaps the most Madoff “clients”, many who originally claimed to be victims may now be accomplice. SEC OIG delivered a stinging report on Madoff harshly criticizing lax regulators for overlooking the Madoff information from WHISTLEBLOWERS & others inside the SEC, for years. http://www.foxbusiness.com/story/markets/industries/government/report-set-criticize-sec-madoff-scheme/ Proskauer has further ties to Madoff according to TPM, in 2004 an SEC attorney, Genevievette Walker-Lightfoot, notified the SEC of the Ponzi but was forced out of her job, the SEC later settling a claim filed by Lightfoot. Upon termination, Lightfoot turned over the Madoff file to Jacqueline Wood who then presumably buried the report that could have exposed the Ponzi in 04. SEC OIG’s report mentions Wood of Proskauer throughout the entire report as a key figure in the regulatory failure. http://www.sec.gov/news/studies/2009/oig-509.pdf After leaving the SEC, Wood took a Proskauer partnership. http://tpmcafe.talkingpointsmemo.com/talk/blogs/mrs_panstreppon/2009/07/bernie-madoff-sec-investigator.php?ref=reccafe Laura Pendergest-Holt, Stanford’s CIO, criminally charged in the Stanford investigation, then filed a civil suit against Proskauer & Sjoblom claiming they “hung her out to dry” before the SEC. Meanwhile, Sjoblom solicited a multi-million dollar retainer from Stanford’s Chairman, A. Stanford, the night before the events with Holt at the SEC. http://www.memphisdailynews.com/editorial/Article.aspx?id=41707 WSJ reports filing of a Class Action suit against Sjoblom & Proskauer in TX after Davis’ incriminating plea agreement implicated Proskauer, seeking damages for the entire $7 Billion in damages for Proskauer’s role Aiding & Abetting, The civil suit is largely based on a plea agreement that we mentioned in this post yesterday, which focuses in part of the alleged actions of Sjoblom, who became outside counsel for Stanford’s international bank based in Antigua in the Caribbean starting in 05. http://blogs.wsj.com/law/2009/08/28/sjoblom-proskauer-rose-face-fallout-from-stanford-affair/ Another defendant in the Iviewit Lawsuit, convicted felon Marc S. Dreier, found orchestrating yet another bizarre Ponzi, in the Dreier scheme, we find former Proskauer partner Sheila M. Gowan as bankruptcy trustee in the suit. http://blogs.wsj.com/law/2009/01/02/former-ausa-selected-as-bankruptcy-trustee-in-dreier-case NY Attorney General Defendant in Iviewit Suit While acting as the NY Gov, Eliot Spitzer, former NY AG, reached out to his former Deputy AG Dietrich Snell who left the AG to take a Proskauer partnership, in order for Snell to act as defense counsel for Spitzer during the TrooperGate / HookerGate scandals, resulting in Spitzer’s resignation. http://www.nydailynews.com/news/2007/10/13/2007-10-13_spitzer_hiring_city_lawyer_on_taxpayer_e.html Snell working for Spitzer at the NY AG when Iviewit filed complaints with the First Dept & NY AG against attorneys involved in the patent thefts. Spitzer a named Defendant in the suit, other Defendants include First Dept, law firms ( Proskauer Rose, Meltzer, Lippe, Goldstein & Schlissel, Foley & Lardner ) & corp defendants include, Intel Corporation, Lockheed Martin Corporation, Silicon Graphics, Inc., IBM, MPEG-LA, LLC, Crossbow Ventures, Wayne Huizenga, & many more. Cease & Desist Iviewit secured seed funding from billionaire Wayne Huizenga & Crossbow Ventures whose investments were two-thirds SBA funds. Iviewit signed & executed NDAs, licensing agreements & strategic alliances starting in 1998 with many Fortune 1000 companies. Companies with signed agreements include; Real 3D, Inc., ( a consortium of Intel, Lockheed & SGI ) Dell, Wachovia, Warner Bros., AOLTW, Raymond James, Lehman Brothers, Bear Stearns, CIBC World Markets / Oppenheimer, Kodak, Motorola, General Instrument Corporation, Paine Webber, Pequot, Sony, MGM, NCR & more. Recent formal Cease & Desist & Demand Letters have gone out to major players Intel, Lockheed & SGI, who formed Real 3D, where leading experts & engineers from the companies tested & used the technologies. Iviewit filed a formal complaint to SEC Chairperson, Mary Shapiro against Intel & others. The complaints filed for possible violations of FASB No. 5 resulting from possible failure to report liabilities to Shareholders. Liabilities resulting from the Trillion Dollar suit they are named defendants in & failure to report liabilities resulting from knowing & willful infringement in violation of signed agreements for almost 10 yrs. Accounting for the liabilities should appear in the Annual Report to Stockholders as required under FASB. http://iviewit.tv/press/press4.pdf In recent patent disputes, settlement in excess of $600M was reached involving RIM Blackberry & NTP on the strength of an NDA. http://money.cnn.com/2006/03/03/technology/rimm_ntp/ Microsoft was issued an Injunction that awarded hundreds of millions in damages to i4i, for willful infringement of technologies embedded in MS Word. The injunction also forces a product recall of ALL products with MS Word since 2003. http://news.idg.no/cw/art.cfm?id=582697AC-1A64-6A71-CE533A73F07D7ED4 Injunction in the Iviewit suit forcing a Cease & Desist & product recall would shut down internet video, reduce digital TV channels by over 75%, recall hardware & software that uses the technologies since 1998, a recall unparalleled in history. The Iviewit matters involve investigations ongoing with the DOJ, DOJ OIG Glenn Fine, Harry Moatz, Director OED US Patent Office, the FBI OPR, the SBA OIG, former US AG Michael Mukasey, current US AG Eric H. Holder, Jr & more. Feb 09 petition to President Barack Obama & Holder @ http://iviewit.tv/press/press5.pdf News http://iviewit.tv/press/index.htm —- Eliot I. Bernstein Inventor Iviewit Holdings, Inc. – DL Iviewit Holdings, Inc. – DL Iviewit Holdings, Inc. – FL Iviewit Technologies, Inc. – DL Uview.com, Inc. – DL Iviewit.com, Inc. – FL Iviewit.com, Inc. – DL I.C., Inc. – FL Iviewit.com LLC – DL Iviewit LLC – DL Iviewit Corporation – FL Iviewit, Inc. – FL Iviewit, Inc. – DL Iviewit Corporation 2753 N.W. 34th St. Boca Raton, Florida 33434-3459 (561) 245.8588 (o) (561) 886.7628 (c) (561) 245-8644 (f) iviewit@iviewit.tv www.iviewit.tv http://iviewit.tv/wordpress/ http://iviewit.tv/wordpresseliot/ More @ http://exposecorruptcourts.blogspot.com/2007/12/ethics-scandal-hearing-greeted-with-15.html http://exposecorruptcourts.blogspot.com

I thought you said he owed

I thought you said he owed billions?

Mistake

There was a mistake in the headline that has since been corrected.