Allen Stanford: The Lord of the Lies | 113

Scamfluencers

Wondery

Society & Culture

4.1 • 7K Ratings

🗓️ 8 July 2024

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

After a Texas oil bust forces him into bankruptcy, Allen Stanford looked abroad for a new opportunity: starting an off-shore bank in Antigua and using client money as his own personal piggybank. Soon, he’s spending billions on private planes, his own cricket grounds and estates all over the world. To keep his scheme going, he bullies his coworkers, makes blood oaths with regulators, and threatens to punch reporters in the mouth. But when the global financial crisis hits in 2008, Allen’s bravado is met with cold hard reality.

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Transcript

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0:00.0	Hey, scam influencers fans, Sachi here.
0:02.2	If you live for the outrageous stories and unbelievable cons that we cover, you need Wendry Plus.
0:07.2	It's like sitting in the room with us as we unravel every twist.
0:10.5	Add free a week ahead of everyone else and packed with exclusive content you won't hear anywhere else.
0:16.1	Start your free trial in the Wendry app, Apple Podcasts, or Spotify now.
0:32.4	Sachi, we talk about offshore banking a lot on this show, but do you actually know what it is?
0:39.7	Not really. I mean, it's just having a bank account off ashore, right?
0:40.8	Yeah, you know what?
0:46.0	It is one of those things where when people say it, you don't actually understand what they're doing with their money.
0:47.0	It's like diversifying your assets or paying your taxes.
0:52.2	But if the people using the offshore bank are criminals,
0:55.6	what do you think that says about the guy who founded the bank in the first place?
1:02.4	It's 2008 and Jonathan Agnew is at Lord's Cricket Grounds in London.
1:07.8	It's one of the most famous cricket stadiums in the world.
1:12.5	Jonathan is in his late 40s. He's bald and he wears thin oval glasses. Jonathan has covered cricket for the BBC for the last
1:19.4	17 years, but today he's witnessing something he's never seen before. A black helicopter with
1:26.6	gold trim is landing on the grounds.
1:29.3	Lord's Cricket Grounds is a centuries old,
1:31.8	members-only establishment with a dress code and very particular rules.
1:36.8	Non-members can't even walk on the grass,
1:39.0	much less land a helicopter on it.
1:41.3	Jonathan is completely scandalized.
	...

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