What came of the investigations? Mitt Romney and Allen Stanford... the 8.5 Billion Dollar Ponzi Sche

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posted on Aug, 27 2012 @ 06:13 PM
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Romney & Son Investigated For 8 Billion Ponzi Scheme

www.dailypaul.com...




Tagg Romney

Allen Stanford, James M. Davis and Laura Pendergest-Holt through SIBL (the bank) Stanford International Bank) hid the fraud by continuing to buy CD’s (Certificate of Deposit) and fabricated the performance of their investments. (More court documents: HERE) More information on the legal procedures: HERE A court date was set for January 23, 2012 but according to various reports Allen Stanford is incompetent to stand trial.

Mitt Romney and Son Tagg in 2008 invested in Allen Stanford’s ponzi scheme to the tune of 10 million dollars initially in Solamere Capital a seed investment and received 1 million in returns. Tagg Romney joined in to help Solamere Capital located in Charlotte, North Carolina with three other prominent brokers.

Tagg Romney is quoted as saying he was proud of his investment with Solamere now run by former executives of Stanford, ” They’re friends of ours, they used the Solamere name, we own a piece of them”. “We helped them get started”






As you can see from the website of Solamere, Tagg Romney’s picture appears with the title of Managing Partner.
The whole situation is being ignored from the media’s eye and denied by Romney’s campaign handlers although they have “not denied the facts“.
Solamere Advisers, the company that is run by brokers, actually removed Tagg and Spencer Zwick’s names from their website.

Read more: www.politicolnews.com...



So I did some searches, and didn't find anything that has resulted from these investigations. Is the investigations still ongoing? If so... will it not be wrapped up by the coming elections?

If you have any information about Allen Stanford, Mitt and Tagg Romney, and the Ponzi scheme... please contribute to this thread.

Maybe I'm missing something, or this is a dead story....





posted on Aug, 28 2012 @ 03:01 PM
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I must be missing something,too. From your post:


Mitt Romney and Son Tagg in 2008 invested in Allen Stanford’s ponzi scheme to the tune of 10 million dollars initially in Solamere Capital a seed investment and received 1 million in returns.
So the investment was right at the start up, before anyone could know whether it was a Ponzi or not, and they made 10% on their investment. I don't see anything horrendous here. But, as I say, I might be missing something.



posted on Aug, 28 2012 @ 05:36 PM
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Originally posted by charles1952
I must be missing something,too. From your post:


Mitt Romney and Son Tagg in 2008 invested in Allen Stanford’s ponzi scheme to the tune of 10 million dollars initially in Solamere Capital a seed investment and received 1 million in returns.
So the investment was right at the start up, before anyone could know whether it was a Ponzi or not, and they made 10% on their investment. I don't see anything horrendous here. But, as I say, I might be missing something.


Yeah... I'm leaning towards agreeing with you. Making an investment in a company at start up, that then later became a ponzi scheme of over 8 billion dollars.... and they only made a 10% return doesn't seem to point towards any wrong doing or knowledge of what was to come.

Here's the thing.... is it not possible that Tagg and Mitt are already financially secure, and actually don't care about the returns. Even if they were to have broken even, not bad if you can funnel and steal funds from people in order to make your friends wealthy. It's strengthening his team essentially, while the Romney's are already 'rich'.... why not make those that support you even richer.



posted on Aug, 28 2012 @ 06:09 PM
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reply to post by FractalChaos13242017
 

Dear FractalChaos13242017,


Here's the thing.... is it not possible that Tagg and Mitt are already financially secure, and actually don't care about the returns. Even if they were to have broken even, not bad if you can funnel and steal funds from people in order to make your friends wealthy. It's strengthening his team essentially, while the Romney's are already 'rich'.... why not make those that support you even richer.


That's a good point.
, and I think it's got a lot of truth in it. I'm reasonably sure that the investment was made more readily because they already knew each other and they wanted to help him out. I'm not sure I know how to get rid of that kind of thing though. One tends to hire friends, lend money to friends, and recommend friends. That seems to be nearly universal.

I'm not sure about the "steal funds" part. But perhaps the Romney's weren't as careful in monitoring the business as they should have been. That's not good. In Washington, as I understand it, you can't trust your friends or your enemies.

With respect,
Charles1952





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