Monday, 25 June 2012

Mitt Romney is linked to Allen Stanford's Ponzi scheme

Mitt Romney and Son (Taggart)
Spencer Zwick

'Solamere Capital' was created in 2008 by Mitt Romney's eldest son, Taggart (b. 1970) and associates, including his father's 'chief fundraiser,' Spencer Zwick. Mitt Romney himself invested $10 millions in 'Solamere Capital' on which he is known to have made a profit of up to $1 million. 




In 2009, 'Tagg' Romney entered into a further partnership with Spencer Zwick, Tim Bambauer, Deems May, and Brandon Phillips, creating a subsidiary 'wealth management' company, 'Solamere Advisors.' At this time, Tagg Romney told the press:
'We are excited to be associated with such a highly capable group of financial advisors with a proven track record of meeting the needs of their clients throughout the Southeast.' 




As we all know, there is absolutely no doubt that Mitt Romney has extensive, ongoing 'financial' and 'political' connections with various gangs of  'MLM Income opportunity' racketeers - all of whom must assume that, if their man becomes President of the USA, then they will never be held to account for their crimes. However, the grinning bosses of 'Amway', 'NuSkin', 'Xango', 'Herbalife' etc. are self-evidently not the only racketeers from whom the Republican party's presidential candidate has recently obtained 'thirty pieces of silver.'


http://crooksandliars.com/karoli/mitt-romney-entwined-stanford-ponzi-scheme


http://thinkprogress.org/economy/2011/11/01/316040/romney-solamere-ponzi/





Economic alchemist, Allen Stanford, has just been imprisoned for 110 years.





After 10 years without the slightest official investigation, Mr. Stanford was finally convicted of directing, and dissimulating, a classic Ponzi scheme in which he used an army of commission-agents ('brokers') to raise around $8 billions by peddling valueless pieces of paper arbitrarily defined as 'Certificates of Deposit.' In Texas alone, approximately 1300 retired persons lost their life savings in the Stanford fraud. 


Tim Bambauer


Three of Stanford's highly-paid liars were none other than 'Tagg' Romney's subsequent 'highly-capable associates' at 'Solamere Advisors,' Tim Bambauer, Deems May, and Brandon Phillips. Despite their claims never to have been paid by Mr. Stanford, according to a court-appointed audit of the 'Stanford Financial Group,' Mr. Bambauer received $1 143 392 , Mr. May $465 000 and Mr. Phillips $70 000. However, the trio have refused to hand this stolen cash back to Mr. Stanford's victims and, adding insult to injury, they have claimed to be honest victims themselves - completely unaware that Allen Stanford was a liar, that his 'International Bank' was an absurd fraud and that the elaborate junk which they once enthusiastically peddled as a 'risk-free investment' was valueless. Indeed, the following sob-story is what Mr. Bambauer has posted on his own Blog (http://timbambauer.blogspot.fr/)


'A lifelong resident of Charlotte, NC, I have served as an investment advisor to clients for over 21 years. In that time I have been fortunate to have become friends with a diverse and loyal group of clients. For the vast majority of our work together we have shared great success. However, many of us also were victims of the Stanford fraud and through that most have remained steadfast in their support.' 




Significantly, the mainstream media - which completely failed to warn the public about Allen Stanford's Ponzi scheme - has generally not been reporting Mitt Romney's disturbing links to it .

David Brear (copyright 2012)

3 comments:

  1. The retirees who lost their life savings can be considered victims. Someone who profited over a million dollars cannot.

    ReplyDelete
  2. Please take a look at the article posted on this Blog in March 2012 about the Ponzi scheme fronted by Reed Slatkin. This might give you a better insight into Allen Stanford's racket:

    http://mlmtheamericandreammadenightmare.blogspot.fr/2012/03/reed-elliot-slatkin-while-back-i-was.html.

    In total, Reed Slatkin robbed around 800 victims. However, he paid $279 millions to another group of 'victims' who had apparently originally given him a total of only $128 millions to 'invest.' In this way, between January 1st 1986 and April 30th 2001, Slatkin passed more than $151 millions of stolen funds to 75 (apparently independent) individuals many of whom were core-‘Scientologists.’ A second (slightly larger) group pocketed $44 millions. If we just take one example, Joel Kreiner, ‘Scientology’s’ primary tax attorney, received a whopping $5 866 583.

    Just like Tim Bambauer & Co., none of Slatkin's winning 'victims' were charged with fraud. However, they weren't the final beneficiaries of the swindle.

    ReplyDelete
  3. .thanks for sharing

    ReplyDelete