R. Allen Stanford Interview

June 11. 2009

Financial fraudster, Allen Stanford, did what was clearly a painful interview for him with CNBC. During the interview, he denied all the U.S. government's allegations that he has been running a ponzi scheme a la Madoff.

R. Allen Stanford

Here is a text excerpt of the most poignant part of the the interview, where the U.S. government issued Stanford instant poverty for the serious financial crimes he is being accused of committing:

TRANSCRIPT

COHN: WE WERE TALKING FOR ABOUT WHAT THIS HAS BEEN LIKE ,AND YOU'RE LITERALLY GOING UP AGAINST SOME PRETTY POWERFUL ADVERSARIES IN THE SEC AND POTENTIALLY IN THE JUSTICE DEPARTMENT OVER SOMETHING THAT YOU, AS YOU SAID, HAVE TAKEN...(UNINTELLIGIBLE). AND I'M WONDERING WHAT THAT'S LIKE.

ALLEN: WHAT IT'S LIKE TO SEE IT ALL GO AWAY? WELL, LET ME ASK YOU THIS, SCOTT, ARE YOU MARRIED?

COHN: YEAH.

ALLEN: DO YOU HAVE KIDS?

COHN: YEAH.

ALLEN: YOU GOT A HOUSE?

COHN: YEAH.

ALLEN: YOU GOT A JOB WITH CNBC.

COHN: RIGHT.

ALLEN: YOU GOT A CAR, CREDIT CARDS, CHECKING ACCOUNT. HOW WOULD YOU LIKE TO WALK OUT THE FRONT DOOR OF YOUR HOUSE WITH YOUR WIFE AND KIDS IN TOW AND HAVE US MARSHALS COME UP AND SAY YOU'RE NOT GOING BACK IN YOUR HOUSE, YOU'VE LOST YOUR JOB, ALL YOUR CREDIT CARDS HAVE BEEN CANCELED, ALL THE MONEY THAT YOU HAVE IN YOUR BANK, WE'VE FROZEN, IF NOT TAKEN, THAT YOU HAVE NOT--YOU WILL NOT HAVE ACCESS TO IT. AND WHAT YOU'RE GOING TO WALK AWAY WITH ARE THE CLOTHES ON YOUR BACK. BEST OF LUCK. AND BY THE WAY, WE'RE GOING TO SUE YOU. GO FIND SOME LEGAL COUNSEL.

COHN: I DON'T IMAGINE I'D LIKE THAT AT ALL.

http://www.cnbc.com