Tearful Allen Stanford denies ponzi scheme

By David Edwards
Tuesday, April 7, 2009 8:45 EDT
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R. Allen Stanford told ABC’s Brian Ross that he expects to be indicted by a federal grand jury in the next two weeks. Civil allegations from the Securities and Exchange Commission accuse Stanford managing an $8 billion fraudulent investment scheme. Stanford plans to fight the charges. “I would die and go to hell if it’s a Ponzi scheme,” he said.

ABC News has more details here.

This video is from ABCNews.com, broadcast Apr. 6, 2009.

Download video via RawReplay.com

David Edwards
David Edwards
David Edwards has served as an editor at Raw Story since 2006. His work can also be found at Crooks & Liars, and he's also been published at The BRAD BLOG. He came to Raw Story after working as a network manager for the state of North Carolina and as as engineer developing enterprise resource planning software. Follow him on Twitter at @DavidEdwards.
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