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 Financial Group Securities and Exchange Commission amended its complaint to accuse Stanford of turning the company into a "massive Ponzi scheme". Allen Stanford traced his company to the insurance company founded in 1932 in Mexia, Texas, by his grandfather, Lodis B. Stanford. However, there was no direct connection between the insurance company and Allen Stanford's banking business, which he started on the British Overseas Territory of Montserrat in the West Indies in the 1980s. Allen Stanford's move into banking utilised funds he had made in real estate in Houston in the early 1980s. In 2008, Stanford Financial Group announced it would open