Barbados DLP and BLP must return proceeds of crime to Allen Stanford’s victims

Barbados politicians received Stanford money – stolen money.

The same anonymous insider who accurately tipped us off to the 3S scandal now reports that Allen Stanford gave political donations to both the Barbados Labour Party and the Democratic Labour Party.

Our source says that both US and UK Authorities contacted the current Government of Barbados about various Stanford financial transactions that occurred in or through Barbados. A small part of the information received, (almost as an afterthought, according to the source) contains details of Standford companies’ political donations and expenditures in Barbados.

With this in mind, the question must be asked:

“Considering that Stanford’s political donations are now known to be ‘Proceeds of Crime’, will the DLP and BLP politicians declare how much was received and return those funds to the victims of Stanford’s ponzi scheme?”

Prior to his arrest, Allen Stanford provided more than US$7 million dollars to US politicians alone. We know that because US politicians are required to declare their sources of funding.

Unlike the United States and many other countries, Barbados has no campaign financing rules, disclosure requirements or conflicts of interest laws for elected and appointed government officials. In Barbados “campaign donations” are just as likely to end up in the Prime Minister’s personal bank account, but as former PM Owen Arthur knows – even when caught it doesn’t matter because there is no law against it.

How much did Stanford provide to the Barbados Labour Party and Democratic Labour Party and associated individuals over the years?

Prime Minister Freundal Stuart and Opposition Leader Owen Arthur need to come clean with their fellow citizens and to return the stolen money to the victims.

Propaganda Continues at The Barbados Advocate

In the latest edition of the Barbados Advocate, Guyson Mayers states that Barbados was “spared” from Allen Stanford because our “relevant authority” was warned about him before any damage was done. Wishful thinking by Mr. Mayers or just part of the normal spin at the Barbados Advocate since that paper became the de facto political mouthpiece of the DLP government?

Considering that even the TD Bank saw US$2.1 billion of victims’ funds flow through its accounts and the lawsuits haven’t stopped coming, it’s a little early to be saying Barbados has been “spared”…

“…I can say that Sir Allan Stanford arrived in the Caribbean bearing gifts like Santa Clause out of season, and nearly everybody fell at his feet. To our credit, when it looked like he had an interest in Barbados, one of our principal officials at the time put the relevant authority on notice that such an interest was expressed and that the appropriate care should be taken to protect Barbados. We were spared him.”

R.E. Guyson Mayers in the Barbados Advocate article A Guy’s View: We must stop all the holes in our regulatory framework


Filed under Barbados, Consumer Issues, Corruption, Crime & Law, Ethics, Offshore Investments, Political Corruption, Politics, Politics & Corruption

7 responses to “Barbados DLP and BLP must return proceeds of crime to Allen Stanford’s victims

  1. Sadovyi

    What about the US$1,000,000.00 paid to each player on the winning cricket team that won against England. Do they pay that back too??

  2. BFP

    Hi Sadovyi,

    If Stanford stole brand new autos and gave them to the cricket team, you’d agree that the autos should be given back to the victims, right?

    Why should money be any different?

  3. Sadovyi

    Agreed. But then where do we stop?

  4. Harry

    I don’t believe Stanford stole money from anyone. People willing invested in his products. His problem was a lot of the money was of suspicious provenance i.e. a large number of his clients were engaged in money laundering and the U.S. ultimately didn’t like that. Where the money came from was blindingly obvious to most, but never much of an issue. Better spent down here, than up there. However it’s interesting to note that Irving Picard, the American trustee in the Madoff case is targeting former Madoff clients that were net winners for so-called “clawback” claims. Perhaps it could happen in the Stanford case too.

  5. MudHead

    I love LOVE to see repatriation of funds from criminals!
    Justice be served!

    When will the people of GUYANA get back all the money that Forbes BURNHAM stole from the country?
    thus condemning it to poverty and squalor?

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