February 10, 2012
By SIVG
LETTER TO THE HONORABLE JUDGE ROBERT L. WILKINS
The Honorable Judge
Robert L. Wilkins
US District Court for the District of Columbia
333 Constitution Avenue NW
Washington D.C. 20001
The United States of America
Ref. - SEC v SiPC (Case No.: 1:11-mc-00678-RLW)
Honorable Judge Wilkins:
The undersigned, non-US citizens, victims of the Stanford
Ponzi scheme, very respectfully address this urgent letter to you,
accompanied by
evidences that we have collected with regard to marketing
materials of the Stanford International Bank as well as other Stanford
entities,
which were used in the scam for sale of CDs by most financial
advisors involved in this terrible crime defrauding thousands of people
worldwide.
Stanford's victims are predominantly people who invested
their life savings in the Stanford entities because they trusted U.S.
legal regulations
which seemed to support the Stanford businesses. Stanford's
marketing portfolio generally included publications with the SEC, FiNRA
and SiPC
logos on.
The companies controlled and directly or indirectly owned by
Allen Stanford operated in a highly interconnected fashion to advance
the selling of
SiBL CDs. In addition, Stanford's financial advisors relied
on the apparent legitimacy offered by US regulation of Stanford's US
brokerage subsidiary
(SGC) in order to generate sales of SiBL CDs. Likewise, in
order to buy CDs through the Stanford Financial Group of Companies
(SFG), a global network
of financial services companies based in Houston, Texas,
innocent investors from different places and countries were made to
submit an account
application that bore the SiB logo and indicated that
customers were entering into an agreement with SGC, an NASD/FiNRA and
member of SiPC.
On the other hand, the SEC has alleged in its civil suit
against Stanford et al., that, the SFG of Companies operated a massive
Ponzi scheme; and,
an entity that operates as a Ponzi scheme is a matter of law.
Therefore, any insolvent entity cannot issue real securities and, the
SiPC/SiPA has
previously been used --Old Naples Securities-- to protect
investors regardless of the fact that the securities were fictitious, as
in the case of
SiBL CDs.
Judge Wilkins, if the SiBL CDs had no value due to the fact
that most of the money was stolen in a Ponzi scheme, then the SiBL CDs
cannot be replaced,
can they? Therefore, when missing securities cannot be
replaced by SiPC, a client of the bank is entitled to compensation of
his/her net equity
investments; this is the CDs in our case. Besides, all
victims' life savings were stolen by NASD/FiNRA-registered financial
advisors, members of SiPC,
mostly vice-presidents, as official representatives not only
for the SGC, but also for the conglomerate of entities of the SFG,
including the SiBL
and the STCL in Antigua.
Finally, it is well documented that during more than a
decade, Stanford Financial had printed and distributed to its Financial
Advisors thousands
of brochures offering SiBL CDs. Additionally, Stanford
Financial launched an intensive TV advertising campaign in The United
States to promote the
sale of SiBL CDs. By 2008, Stanford Financial had distributed
nearly 6,000 SiBL CD "Accredited Investor" packets to investors under
the Reg. D
offering.
With all due respect, the Stanford International Victims
present the attached evidences to you, which we hope be considered in
Court for the current
litigation SEC v. SiPC.
Very truly yours,
The Stanford International Victims Group
February the 9th, 2012
Contact us at:
www.sivg.org
The following business cards show "different company's name"
having the same Stanford logo/name, and the same Email-Domain
"stanfordeagle.com".
More Evidences.
Here is the letter delivered to Honorable Judge Wilkins,
received
and sealed by the US District Court.
Mr. Representative
Dr. BILL CASSIDY
Washington DC Office
1535 Longworth HOB
Washington, D.C. 20515
The United States of America
Ref. - SEC v SiPC (Case No.: 1:11-mc-00678-RLW)
Distinguished Dr. Cassidy:
The undersigned, non-US citizens, victims of the Stanford
Ponzi scheme, very respectfully address this urgent letter to you,
accompanied by
evidences that we have collected with regard to marketing
materials of the Stanford International Bank as well as other Stanford
entities,
which were used in the scam for sale of CDs by most financial
advisors involved in this terrible crime defrauding thousands of people
worldwide.
Stanford's victims are predominantly people who invested
their life savings in the Stanford entities because they trusted U.S.
legal regulations
which seemed to support the Stanford businesses. Stanford's
marketing portfolio generally included publications with the SEC, FiNRA
and SiPC
logos on.
The companies controlled and directly or indirectly owned by
Allen Stanford operated in a highly interconnected fashion to advance
the selling of
SiBL CDs. In addition, Stanford's financial advisors relied
on the apparent legitimacy offered by US regulation of Stanford's US
brokerage subsidiary
(SGC) in order to generate sales of SiBL CDs. Likewise, in
order to buy CDs through the Stanford Financial Group of Companies
(SFG), a global network
of financial services companies based in Houston, Texas,
innocent investors from different places and countries were made to
submit an account
application that bore the SiB logo and indicated that
customers were entering into an agreement with SGC, an NASD/FiNRA and
member of SiPC.
On the other hand, the SEC has alleged in its civil suit
against Stanford et al., that, the SFG of Companies operated a massive
Ponzi scheme; and,
an entity that operates as a Ponzi scheme is a matter of law.
Therefore, any insolvent entity cannot issue real securities and, the
SiPC/SiPA has
previously been used --Old Naples Securities-- to protect
investors regardless of the fact that the securities were fictitious, as
in the case of
SiBL CDs.
Dr. Cassidy, if the SiBL CDs had no value due to the fact
that most of the money was stolen in a Ponzi scheme, then the SiBL CDs
cannot be replaced,
can they? Therefore, when missing securities cannot be
replaced by SiPC, a client of the bank is entitled to compensation of
his/her net equity
investments; this is the CDs in our case. Besides, all
victims' life savings were stolen by NASD/FiNRA-registered financial
advisors, members of SiPC,
mostly vice-presidents, as official representatives not only
for the SGC, but also for the conglomerate of entities of the SFG,
including the SiBL
and the STCL in Antigua.
Finally, it is well documented that during more than a
decade, Stanford Financial had printed and distributed to its Financial
Advisors thousands
of brochures offering SiBL CDs. Additionally, Stanford
Financial launched an intensive TV advertising campaign in The United
States to promote the
sale of SiBL CDs. By 2008, Stanford Financial had distributed
nearly 6,000 SiBL CD "Accredited Investor" packets to investors under
the Reg. D
offering.
With all due respect, the Stanford International Victims
present the attached evidences to you, which we hope be considered in
your plans to file
legislation to allow investors of R. Allen Stanford to
individually opt out of a federal lawsuit for one-time buyouts of up to
$500,000. Improving
SiPC Act of 2012 legislation is firmly related to current
litigation SEC v. SiPC.
Very truly yours,
The Stanford International Victims Group
February the 9th, 2012
Contact us at:
www.sivg.org
The following business cards show "different company's name"
having the same Stanford logo/name, and the same Email-Domain
"stanfordeagle.com".
More Evidences.
Read more:
http://sivg.org/article/2012_Victims_protections_SIPA.html
