Verdict Still Out on Bond for Financier Sir Robert Allen Stanford
As reported by the Houston Chronicle, Texas and Antiguan billionaire financier Sir Robert Allen Stanford remains in custody following a hearing yesterday in the U.S. District Court for the Southern District of Texas in which the prosecution asked the Court to revoke the $500,000 bond initially set for Stanford. Assistant U.S. Attorney Gregg Costa argued to U.S. District Judge David Hittner that Stanford’s international ties make him a substantial flight risk, distinguishing him from former Enron executives Kenneth Lay and Jeffrey Skilling, who were released on bond. The prosecution argued that Stanford might have access to vast wealth from investors hidden abroad. It also speculated that Stanford has a network of wealthy acquaintances abroad who might assist Stanford in fleeing.
Stanford’s attorney, Dick DeGuerin, countered that his client is broke because all of his assets have been seized by the Government. DeGuerin claimed that even though Stanford had been considered one of the wealthiest men in the U.S., with a net worth of more than $2 billion, his family and friends had to come up with the $100,000 in cash for his bond. DeGuerin stated that Stanford has no interest in fleeing because "When we win this case, and we will win this case, Mr. Stanford will be restored of much of what he has been stripped of… That is a tremendous financial incentive to stay." DeGuerin also cited the fact that Stanford has resided in Houston recently, has strong family ties with the U.S., and voluntarily surrendered to authorities. Stanford gave a thumbs up to family members in the courtroom.
Costa claimed that Stanford defrauded investors of approximately $7 billion in a massive Ponzi scheme, diverting $1.6 billion to himself in personal loans to fund a lavish lifestyle, which included six private jets, a helicopter and homes in Miami and St. Croix.
Before Inzon, there was Elandia. Victims of Elandia fraud, the Ahkoy Family is now suing Elandia in Pacific and Florida courts. Elandia's Allen Stanford and Sydney D. "Trip" Camper orchestrated the Ponzi scheme against Datec, the Ahkoy family business. When Elandia was exposed, Allen Stanford forced Sydney Camper to resign. In true Stanford form, Sydney Camper found his next fraud victim in Los Angeles - a private and profitable company with aspirations to go public. With the help of his new partner in crime Edward G. Berkhof, Sydney Camper formed a "shell" holding company and together they pretended to be the owners of this private company, arranged a trip to London, opened up secret bank accounts, performed an illegal hostile takeover, and ruined the los angeles company in the same fashion as Datec, the Ahkoy family business.
Ponzi schemer Allen Stanford is in the hands of the FBI while swindlers Sydney Camper and Ed Berkhof are STILL at large. Investors Beware! Sydney Camper is a fraud and continues to hone his Ponzi skills at InZon. According to recent articles, "FMC Acquires SMS" and FMC Telecom founder Frank Cassidy is either a NEW partner in crime for Ed Berkhof OR he is simply ANOTHER victim fallen prey to Ed Berkhof's web of lies and empty promises to "take a company public". Ed Berkhof is neither a President, COO or Investor of anything. Ed Berkhof is a con artist and a has-been third rate bass player from Florida trying to find a payday.
The SEC and the FBI are investigating Allen Stanford and continuing their search for serial swindlers such as Sydney Camper and Ed Berkhof.
View links below for more information on Elandia/Ahkoy:
http://www.secinfo.com/d14D5a.v6Q98.c.htm
http://www.secinfo.com/d14D5a.v6Q98.d.htm