Sir Allen Stanford claims he's a scapegoat

Sir Allen Stanford claims he's the US government's 'moose head on the wall'

Sir Allen Stanford has hit out at the US government's attempt to "disembowel" his financial empire, arguing he is no more than a "pretty colourful moose head to put on the wall."

By James Quinn, Wall Street Correspondent, Telegraph.co.uk
Last Updated: 6:35AM BST 21 Apr 2009

Sir Allen Stanford claims he is a scapegoat - a 'pretty colourful moose head on the wall'.

The Texan billionaire, who in February was accused of orchestrating an $8bn (£5.5bn) alleged Ponzi scheme by the US Securities and Exchange Commission (SEC), believes he is a scapegoat for the US authorities, following their failure to detect Bernard Madoff's $65bn fraud.

"I guess somebody is looking for a moose head," said Sir Allen, "and I'm a maverick rich Texan, so I'm a pretty colourful moose head to put on the wall."

Related Articles

• Allen Stanford expects to be indicted 'within two weeks'

• Sir Allen Stanford cries during ABC interview over alleged $9.2 billion fraud

• Sir Allen Stanford denies Ponzi allegations

• Sir Allen Stanford's lawyer blames SEC

• Ex-GMAC chairman sued over Madoff

Speaking to the Houston Chronicle, the financier, whose Stanford Group was a significant backer of cricket and golf tournaments until the Ponzi allegations and subsequent freezing of his assets, said he wants "to get everybody back whole" saying that "if I'm broke at the end of it, so be it."

Sir Allen also said he did not know a lot about where the $8bn was invested, leaving that to professionals under him, but he said it was invested in a combination of equities and property.

Meanwhile, Sir Allen has asked a US appeals court to intervene in the civil fraud case filed by the SEC, challenging the freezing of his assets and the appointment of a court receiver.