Skip to main content

90 Out Of 8000 Isn't Bad

Thank the heavens the FBI and a receiver are on the case. If the SEC were in charge we would have found assets of -$1.8 billion by this time. Yes, we could be angry. We could be very angry indeed. Fortunately, cooler heads have prevailed, and instead we have begun the slow process of financial fraud recovery. Specifically:
1. We admitted we were powerless over Ponzi schemes and fraud--that our lives had become unmanageable.
2. Came to believe that a Power greater than money could restore us to sanity.
3. Made a decision to turn our will and our lives over to the care of unemployment checks as we understood them.
4. Made a searching and fearless moral inventory of our assets.
5. Admitted to the bank, to ourselves, and to another investor the exact nature of our wrongs.
6. Were entirely ready to have the bankruptcy judge remove all these defects of character.
7. Humbly asked Him (the judge) to remove our shortcomings.
8. Made a list of all creditors we had harmed, and became willing to make amends to them all.
9. Made direct amends to such creditors wherever possible, except when to do so would injure them or others.
10. Continued to take personal inventory and when we were wrong promptly admitted it to our auditors.
11. Sought through our attorney to improve our conscious contact with Him as we understood Him, pleading only for knowledge of His will for us and the power to carry that out.
12. Having had a financial awakening as the result of these steps, we tried to carry this message to others, and to practice these principles in all our affairs.
So, this news seems... well... beneath us. We'd write more, but we have a meeting to go to.

The court-appointed receiver overseeing the financial empire of Texas billionaire Allen Stanford, who is charged with fraudulently selling $8 billion in certificates of deposit, has located $90 million in assets so far, an FBI agent said on Friday.

Stanford receiver finds $90 million in assets: FBI [Reuters]