Stanford used respected estate planners in fraud schemes

One of the techniques used by Sir Allen Stanford to perpetrate his $8 billion fraud involving certificates of deposit was to enlist the unwitting aid of trustworthy individuals, including estate planners.

The following information is based on Jamie Doward & Rajeev Syal, The famous faces that fooled Stanford clients, The Observer, Feb. 22, 2009:

• Stanford “repeatedly used the British royal family to convince investors that he was a bona fide businessman with impeccable credentials.”
• Stanford claimed to be related to the Stanford University founder.
• “Company documents show that in 2007 Stanford hired two well-connected London-based advisers to target high-net-worth individuals in Europe. Barbara Hauser, described by the company as an internationally recognised expert on private wealth, and James Thompson, formerly head of marketing at Rothschild, were employed to tap wealthy clients for cash.”
• He also used celebrities such as Michael Owen (English football) and Vijay Singh (golfer).