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
Stanford International Bank US Securities and Exchange Commission (SEC) investigated the US operations of the Stanford Financial Group, including the bank. On 13 February Stanford was quoted saying "the bank remains a strong institution". On 17 February 2009, the SEC charged Allen Stanford, Pendergest-Holt and Davis with fraud in connection with the bank's US$8 billion certificate of deposit (CD) investment scheme that offered "improbable and unsubstantiated high interest rates". This led the federal government to freeze the assets of the bank and other Stanford entities. In addition, the bank placed a 60-day moratorium on early redemptions of its CDs. On 27 February 2009,