Stanford Super Series with the Superstars and England. The tournament collapsed following the arrest (and subsequent conviction) of Allen Stanford for an $8 billion fraud, part of which funded the prize money for the Super Series. Allen Stanford proposed emphasizing Twenty20 cricket as a way to promote cricket in the West Indies. He created the Stanford 20/20, a yearly tournament featuring teams from the island nations that made up the West Indies. From the first edition of his tournament in 2006 he aimed to have the best players from his tournament play as a team against an international team. Initially South Africa had
Allen Stanford receiver for Stanford International Bank and Stanford Trust Company, the Associated Press reported. Reports surfaced in early February 2009 that the SEC, the FBI, the Florida Office of Financial Regulation, and the Financial Industry Regulatory Authority, a major U.S. private-sector oversight body, were investigating Stanford Financial Group, questioning the consistently higher-than-market returns which Stanford International Bank claimed to make for its depositors. A former executive told SEC officials that Stanford presented hypothetical investment results as actual historical data in sales pitches to clients. Stanford claimed his certificates of deposit were as safe as, or safer than, U.S. government-insured accounts. A