Allen Stanford Stanford created and funded the Stanford 20/20 cricket tournament in the West Indies, for which he built his own ground in Antigua. The first Stanford 20/20 Cricket Tournament was held in July and August 2006. The second tournament took place in January and February 2008 with a global television audience of 300 million. Trinidad and Tobago took first place and with it the US $280,000 Stanford Super Series prize after defeating Middlesex on October 27, 2008. In June 2008, Stanford and the England and Wales Cricket Board (ECB) signed a deal for five Twenty20 internationals between England and a West
Allen Stanford said that Stanford and his accomplices operated a "massive Ponzi scheme", misappropriating billions of dollars of investors' money and falsifying the Stanford International Bank's records to hide their fraud. "Stanford International Bank's financial statements, including its investment income, are fictional," the SEC said. In an interview on April 20 at the law offices of Houston criminal attorney Dick DeGuerin, Stanford denied any wrongdoing. His companies had been well-run, he claimed, until the SEC "disembowelled" them. On June 18, 2009, Stanford was taken into custody by FBI agents. On June 25, 2009, he appeared in a Houston court and pleaded not