/EINPresswire.com/ CARACAS, VENEZUELA. May 12, 2010. The “Non-US Victims” of the pyramidal fraud perpetrated by R. Allen Stanford, represented by the COALITION VICTIMAS DE STANFORD AMERICA LATINA, respectfully remind all of the competent authorities of the “Stanford Case”, that 27,992 victims distributed among 113 countries were defrauded with the same financial instrument: Stanford’s certificates of deposit, and for this reason, demand “equal treatment” in the resolution of their tragedy.

According to Jaime Escalona, Leader of the COALICION VICTIMAS DE STANFORD AMERICA LATINA: “The Regulatory Authorities of the United States allowed the US citizen, R. Allen Stanford, to create in US territory a fraudulent financial empire to proliferate worldwide with impunity, under the alleged legitimacy of the US laws and the backing of its Regulatory Agencies”.

“The Stanford Financial Group, jointly with its network of affiliated companies, operated from the United States and were managed by US citizens. However, in practice, Stanford’s businesses traveled permanently by plane, from the United States to the rest of the world, inside the briefcases of its Financial Advisors, duly licensed by FINRA (Financial Industry Regulatory Authority)”; explained Escalona.

“During their multiple trips, its Financial Advisors personally received money destined for the pockets of the US citizen, R. Allen Stanford, through the sale of certificates of deposit issued by the Stanford International Bank Limited (SIBL), domiciled in Antigua. The promotion and sale of these CDs were conducted with the use of fraudulent marketing tools. Very frequently the seals and emblems of FINRA (Financial Industry Regulatory Corporation) and the SIPC (Securities Investor Protection Corporation) were used to legitimize unlawful applications, forms, brochures, books, etc., used by Stanford’s companies in its businesses around the world”, continued Escalona.

For these reasons, the COALICION VICTIMAS DE STANFORD AMERICA LATINA concludes making the following considerations:

First: The jurisdiction in the “Stanford Case” is a Utopia. There are CD holders in 113 countries that purchased their certificates of deposit through one of Stanford’s tangled and impossible to audit companies, without viability or identity.

Second: For accounting purposes, the innocent victims deposited their money directly, without knowing it, in a financial fraudulent empire of which the only owner was the swindler R. Allen Stanford.

Third: Consequently, all of the defrauded investors, US citizens and Non-US citizens, with residence or without residence in the United States, should be considered as “Accredited Victims” with the same status; they should not be discriminated either because of their nationality, or residence in a US territory; neither they should be classified according to the name of the Stanford’s company that sold them the CDs.

Escalona asks: “If the Ponzi’s Pyramid in the Stanford Case has four (4) faces: R. Allen Stanford the” The Swindler”, the CDs his “Lethal Weapon”, the depositors “His Victims” and the Regulatory Agencies “His Necessary Accomplices”; why add more faces to the Ponzi’s pyramid? Why further deepen more pain to the victims with legal technicalities?

Ultimately Escalona exhorts the US authorities to assume their responsibility without discrimination, and immediately restitute the money that was stolen from the victims.

Jaime R. Escalona
Leader Coalicion Victimas de Stanford
America Latina
E-mail: [email protected]; [email protected]
Teléfono: (512)377 9255