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Romney & Son Investigated For 8 Billion Ponzi Scheme

Romney & Son Investigated for 8 Billion Ponzi Scheme

Mitt Romney and his son Tagg Romney have been implicated in a 8.5 billion dollar ponzi scheme with Wall Street investors Allen Stanford and James M. Davis.

The pair are not cleared including their three partners in a court document verified, ongoing legal proceeding involving selling fraudulent CD’s to potential investors.

The statement of fact, includes SIBL, Stanford International Bank, SGC Stanford Capital Management and the associates R. Allen Stanford, ( Allen Stanford) and James M. Davis stole money from investors through fraud. The group bilked investors by diverting funds to their own lifestyles through bonus money, salaries and compensation packages.

The Stanford Financial Group now in receivership headed by Allen Stanford sold investments described as a “well-diversified portfolio”. Instead Stanford diverted the money to finance his own lavish lifestyle which include: jet planes, yacht, pleasure crafts, luxury cars, homes, travel on a company credit card.

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”

Despite claims by Tagg and Mitt Romney the investigation is still “ongoing” and the profits from Stanford and Solemere were unreported by Tagg Romney. He also did possess a minority stake in the business with Spencer Zwick and Eric Scheuermann.

Spencer Zwich is Mitt Romney’s Chief Fundraiser. Investors in Stanford have not recovered their money, and the assets are still in receivership and frozen until the case is resolved. A total of 8.5 billion dollars is still unaccounted for and the billion dollar Ponzi scheme lays at Mitt Romney’s feet for his and his son’s investment partners who were all involved.

Curated News

ABC News Politics – Romney Camp Dismissive of Ponzi Accusation

“But according to Think Progress, Tagg Romney’s account isn’t entirely accurate: “According to documents reviewed by ThinkProgess using the Pacer search engine, charges against Tim Bambauer, Deems May, and Brandon Phillips have not been dropped. A recent court filing shows May requesting the court for arbitration instead of going to trial.

ThinkProgress also spoke to the deputy clerk for the federal District Court in Dallas, and confirmed that the three men are still defendants in the lawsuit to recover the Ponzi scheme money.”

Huffington Post - Tagg Romney Partnered Family Investment Group with Employees Behind Alleged Ponzi Scheme

Crooks and Liars - Mitt Romney Entwined with Players in Stanford Ponzi Scheme

Read more: http://www.politicolnews.com/romney-son-investigated-for-8-b...



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Someone may stumble

I think i recall Ron Paul saying something like "you never know, someone may stumble".

How do we know if this is

How do we know if this is true? The name of the website is pretty dang cheesy if you ask me. Never heard of it before.

There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan

"Invest only in things that you can stand in front of and pr

My thoughts as well.

It seems very questionable. Perhaps wishful thinking is getting in the way of critical thinking here?

Isnt this no less than the

Isnt this no less than the second time he has been implicated in something, or is this the same thing?

To climb the mountain, you must believe you can.

A Big Bump!

For the Nitt-Mitt

The Right of the people to keep and bear arms, shall not be Infringed!
"You cannot invade mainland America. There would be a rifle behind every blade of grass." Isoroku Yamamoto, Japanese Admiral

His name is Tagg

I played tag when I was a kid. I never thought it was a name. That is the real crime here. A kid named Tagg...

May the LORD bless you and keep you
May the LORD make His face shed light upon you and be gracious unto you
May the LORD lift up His face unto you and give you peace
Follow me on Twitter @ http://twitter.com/Burning_Sirius

Is this the kind of people we

Is this the kind of people we want representing our nation?

WAKE UP America!

Who has honest and conservative values?

Ron Paul is the only honest and conservative candidate. He will take $38,900 per year as president.

"What if the American people learn the truth" - Ron Paul

David Wilcock alluded to this several days ago.

He reported that Dr. Michael Herzog had been arrested by German police and was VERY cooperative. Don't be surprised if Jeb Bush's name also pops up in this scheme.

me thinks thats another flim-flam

with the bushes, big g little g

this mitch feller is a Toxic Asset !

to say the least

Romney is Paul's supposed close pal

that Paul says he likes personally a "lot".

So, now are you saying Romney has been a crooked ass all along? Article makes me want to be buddies with Romney too:)

jj

ABC covered in nov 2011

but noticed that they covered it as Romney Camp Dismissive.......

http://abcnews.go.com/blogs/politics/2011/11/romney-camp-dis...

and the New Yorker Tagg and his daddy's money.

http://www.newyorker.com/online/blogs/closeread/2012/05/tagg...

politepaulite

We Are One Scandal Away

From President Ron Paul! This one could be it!

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I love google -_-

Type in romney ponzi scheme 67 hits type in a totally made up word like miffle dwibble you get like a few thousand.I know theres better search engines and I think it's time for me to start using one.

Tht whole string shows how closely they are censoring anything inflammatory about Mitt.

Sleep, those little slices of death; Oh how I loathe them.

search engine

Here's one promoted as being 'safe', no spying
startpage.com

Deekey

Tagg? Seriously? What is with

Tagg? Seriously? What is with this famly? Mitt, Tagg, next it will be Vegg...this article really makes them seem like suckers as opposed to victims though.

Haha I was thinking the Same

I had

Mitt Romney, Tagg Romney, Jugg Romney and Popp Romney

Ya, they could be

Ya, they could be investigated until the cows come home--where are the indictments?

bump

for the whole world to see.
hee hee hee.

"The two weakest arguments for any issue on the House floor are moral and constitutional"
Ron Paul

Freedom Bump

Freedom Bump

To arms! To arms! The Redcoats are coming!

Remember when Paul said....

you never know what'll happen .... Romney may slip up? Is Ron Paul psychic? Holy cow!!

Cagey old guys..

Oh the Doc is crazy all right. Crazy like a fox.

Now it's about the Constitution and the fight to defend it.

I love the timing of this,

I love the timing of this, it's so perfect....muhawahahaha

Never be afraid to ask simple questions.

This is a nice smear, hope it

This is a nice smear, hope it sticks. Mitt Romney = Bernie Madoff.

Thanks

Posted on Twitter.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Honore de Balzac...

"Le secret des grandes fortunes sans cause apparente est un crime oublié, parce qu'il a été proprement fait."

"The secret of great fortunes without apparent cause is a crime forgotten, for it was properly done."

A variant,

"Behind every great fortune there is a great crime,"

has appeared as a quotation of Balzac; but it may have originated in a paraphrase in The Oil Barons: Men of Greed and Grandeur (1971) by Richard O'Connor, p. 47: "Balzac maintained that behind every great fortune there is a great crime."

Plano TX

Hmm

Isn't Taggart also the son who had a plural marriage?

When a true genius appears in the world, you may know him by this sign: that the dunces are all in confederacy against him. ~J. Swift

Plural marriage, to me, falls

Plural marriage, to me, falls under the "do what you want as long as it doesn't hurt anyone else" kind of thinking. So I'm not against it per se. As for me, having one significant other is already a handful, lol.

worst part about having lots of wives?

lots of mother-in-laws !!!

song

ron in 12!