Sir Allen Stanford

DEFINITION of 'Sir Allen Stanford'

A former banker that is under investigation for securities fraud in excess of $8 billion. It was revealed that Allen Stanford grossly misinformed his 50,000 investors about the level of professional management that they were receiving. Allen and his associates are also suspected of possible dealings with Mexican drug cartels.

BREAKING DOWN 'Sir Allen Stanford'

Allen Stanford rose from humble beginnings in the town of Mexia, Texas. Beginning as an insurance salesman and bookkeeper, Allen rose to dizzying heights as an investment manager, taking billions of dollars from both private investors and prominent figures in the political and sporting arenas.

RELATED TERMS
  1. Cartel

    An organization created from a formal agreement between a group ...
  2. Major Fraud Act Of 1988

    A piece of legislation passed during the Reagan administration ...
  3. Association Of Certified Fraud ...

    An organization that was created to combat fraud and deception ...
  4. Certified Fraud Examiner - CFE

    A professional certification available to fraud examiners. The ...
  5. Bankers Professional Liability ...

    Financial protection for financial professionals against customers’ ...
  6. Tax Fraud

    Tax fraud occurs when an individual or business entity willfully ...
Related Articles
  1. Stock Analysis

    Booz Allen Hamilton Seeking More Agility

    Booz Allen remains a solid watch-list candidate to see if growth trends improve now that it is a public company.
  2. Stock Analysis

    Ethan Allen Vs. La-Z-Boy: Which Is The Better Buy

    As the economy slowly recovers, so too do Ethan Allen and La-Z-Boy.
  3. Term

    What is a Cartel?

    A cartel is a group of companies or countries that act together to control the price of a single good that they produce.
  4. Stock Analysis

    Guess Who Won a $900 Million Defense Contract? (BAH, RTN)

    The Pentagon awarded $1.24 billion in new defense contracts Tuesday, but just one deal took the cake at $900 million. The big award was actually a multi-party contract, with three winners who ...
  5. Entrepreneurship

    10 Richest, Most Successful Tech Geniuses

    Unlike many industries, tech billionaires are mostly self-made. Many of these billionaires came from humble means and, through their own genius, changed the world.
  6. Stock Analysis

    Is The Market's Slam Of La-Z-Boy Warranted? (LZB, LEG, HVT, SCS, ETH)

    Furniture maker and retailer La-Z-Boy reported a quarterly profit mostly due to a tax benefit. Despite increased revenue, the market treated the stock harshly.
  7. Investing

    Bill Gates: Early Life and Education

    Born William Henry Gates III on Oct. 28, 1955, in Seattle, Washington, Bill Gates was the second child of William H. Gates, Sr. and Mary Maxwell Gates, both of whom were successful professionals ...
  8. Personal Finance

    What Do Investment Bankers Really Do?

    Investment bankers are essentially corporate financial advisors and can help companies manage the process of raising financing for their activities.
  9. Budgeting

    Why Athletes Go Broke

    We look at famous athletes that went bust, and see what we can learn from their mistakes.
  10. Stock Analysis

    Revealed: The Secret Wealth Investment That Yields Up To 15.8%

    It's an idea that the richest and most powerful people in the business world almost never say out loud. But takeover king Wilbur Ross knows it. So does Herb Allen, the most exclusive banker ...
RELATED FAQS
  1. What are the best MBA programs for corporate finance?

    Read about the best MBA programs for students who want to pursue a career in corporate finance, including those at Harvard, ... Read Answer >>
  2. What are the primary risks associated with investing in the drugs sector?

    Learn more about the primary risks facing investors in the pharmaceutical and biotechnology industries. Find out how regulation ... Read Answer >>
  3. What is the drugs sector?

    Learn more about the drug industry and how new drugs are brought to market. Find out about how drug research is financed ... Read Answer >>
  4. What are the most common market indicators to follow the Mexican stock market and ...

    Learn the primary stock market indicators for the Mexican stock market and the leading economic indicators analysts use to ... Read Answer >>
  5. How does the profit margin compare for a generic drug versus a brand name drug?

    Learn how the profit margins compare for generic drugs and brand-name drugs. Brand-name drugs cost three to four times more ... Read Answer >>
  6. How does government regulation impact the drugs sector?

    Learn about how drugs are regulated by the U.S. government as well as the role of the Food and Drug Administration during ... Read Answer >>
Hot Definitions
  1. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  2. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  3. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  4. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  5. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  6. Sharing Economy

    An economic model in which individuals are able to borrow or rent assets owned by someone else.
Trading Center