Allen Stanford thinks he is his best attorney

Allen Stanford thinks he is his best attorney

Text Size Published: Wednesday, 31 Jul 2013 | 7:32 PM ET By: Scott Cohn | CNBC Senior Correspondent

Craig Hartley | Bloomberg | Getty Images

R. Allen StanfordConvicted fraudster Allen Stanford—who has at one time or another been represented by 18 different attorneys—has now decided the best person for the job is himself.

Writing from the federal prison in Florida where he is serving a 110-year sentence for his role in a $7 billion international Ponzi scheme, Stanford complained to the federal court hearing his appeal that his court-appointed attorney is not responsive enough, and is unprepared to effectively represent him. So Stanford, who has no legal training, says he is invoking his right to represent himself.

The merry-go-round of Stanford attorneys began spinning soon after his arrest in 2009, when a federal court froze his assets—which once topped $2 billion. Some attorneys quit when it became clear they could not be paid. Others were fired by the famously temperamental Stanford. At his 2012 trial, Stanford was represented by court-appointed attorneys Robert Scardino and Ali Fazel, though they too tried unsuccessfully to quit the case days before trial.

After Stanford was convicted on 13 counts and ordered to forfeit $5.9 billion tied to the fraud, the court appointed Houston attorney Lourdes Rodriguez to represent Stanford in his appeal. But the two never clicked.

In his affidavit written in prison, Stanford said Rodriguez "has been elusive at times, not answering the phone, e-mails, and never responding to my letters," and he complained she has not been willing to accept his assistance in the case.

Rodriguez did not respond to a request for a comment. In a letter to the court after Stanford first began complaining earlier this year, she said Stanford's real issues were not with her, but "revolve around his expressed disdain and repudiation of the United States criminal justice system."

Now, the two may finally be parting ways. On Tuesday, the Fifth Circuit Court of Appeals ruled that in light of Stanford's motion to represent himself, it was suspending a September deadline to file his appeal.

—By CNBC's Scott Cohn; Follow him on Twitter @ScottCohnCNBC

Read more: http://sivg.org/forum/view_topic.php?t=eng&id=95

For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group - SIVG official forum http://sivg.org/forum/

Stanford Art Collection Nets $2.9 Million for Ponzi Victims

Stanford Art Collection Nets $2.9 Million for Ponzi Victims
Text Size Published: Wednesday, 22 May 2013 | 3:09 PM ET By: Scott Cohn
CNBC Senior Correspondent

Source: Heritage Auctions
A print from the 1983 collection of ten prints entitled "Endangered Species"Former billionaire Allen Stanford, convicted last year of running one of the biggest investment frauds in history, had particularly expensive tastes in art.

Wednesday in Dallas, an auction of some of his most prized possessions brought in just over $2.9 million. The proceeds are to be turned over to victims of the $7 billion scam, who thus far have recovered next to nothing.

(Read More: Allen Stanford: Descent from Billionaire to Inmate # 35017-183)
Stanford's art collection consisted mostly of modern and contemporary works from the likes of Picasso, Dali and Miro. The top prices went to two collections of prints by Andy Warhol. A 1983 collection of ten prints entitled "Endangered Species' sold to an unidentified bidder for $338,500. A second collection from 1985 entitled "Ads" sold to another unidentified bidder, also for $338,500.

One of the most anticipated items—an eight foot glass and steel chandelier by American artist Dale Chihuly, sold for $158,500, slightly more than expected,according to the web site of Heritage Auctioneers in Dallas, which conducted the sale.

Last year, a federal jury found Stanford ran a $7 billion scam involving bogus certificates of deposit. Prosecutors said he used most of his customers' money to fund his lavish lifestyle.

A court-appointed receiver rounding up funds to return to victims has had limited success. Earlier this year, a federal judge cleared the way for the return of some $300 million that had been tied up in foreign accounts. But that represents just pennies on the dollar.



Once the 205th richest American according to Forbes, Stanford was sentenced last year to 110 years in prison. He is appealing his convictions on 13 counts including fraud, obstruction and conspiracy.

—By CNBC's Scott Cohn; Follow him on Twitter:@ScottCohnCNBC

Source: http://sivg.org/forum/view_topic.php?t=eng&id=73

For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group - SIVG official forum http://sivg.org/forum/