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Stanford's Birthday Wish: A Lawyer

Posted by: Matthew Goldstein on March 24

Alleged fraudster R. Allen Stanford’s seemingly endless search for a lawyer may be coming to an end. A person familiar with the securities fraud investigation against the Texas financier is considering retaining high-powered Houston attorney Dick DeGuerin to represent him.

A secretary for DeGuerin says the attorney had been contacted about representing Stanford, but declined to comment further.

DeGuerin is one of the Lone Star state’s most celebrated criminal defense lawyers. Over the years he’s represented everyone from cult leader David Koresh to former House Majority Leader Tom DeLay to a number of former Enron bankers. In 2003, DeGuerin shocked the legal world when he convinced a Texas jury to acquit Robert Durst, the son of a NY real estate mogul, of murder charges in a gruesome dismembering case.

Stanford, who is celebrating his 59th birthday today, hasn’t had a full-time lawyer representing him, ever since the Securities and Exchange Commission charged him with running an $8 billion Ponzi scheme last month. Dallas defense attorney Charles Meadows represented Stanford at a several court appearances in federal court, but the attorney formally withdrew from the case two weeks ago.

It’s believed Stanford, who was one of the richest men in the US before scandal toppled his Houston-baed Stanford Financial Group, has had a hard time retaining an attorney because a federal judge has frozen his assets.

To date, no criminal charges have been filed against Stanford, who has invoked his Fifth Amendment right against self-incrimination in refusing to cooperate with the SEC investigation. Federal prosecutors, however, have filed obstruction of justice charges against Laura Pendergest-Holt, the former chief investment officer for Stanford’s firm.

Reader Comments


March 24, 2009 05:41 PM

Its my birthday on the 26th and my birthday wish is to get MY money back from this ridiculous case Hope someone grants me my wish

please take a minute to read/join our forum for Stanford Fraud Case at


March 24, 2009 05:56 PM

My birthday will be the day the FBI makes an arrest of Allen Stanford.

I hope its soon.

Visit the Stanford Doc Vault:



March 24, 2009 06:23 PM

A lot of person can lost the life saving with this fraud, since the SEC didn't do its work, now we are waiting for the American Justice, Stanford in the jail and our money back. The economic crisis, the Madoff cases, and the now Stanford, where is the USA controls?????


March 25, 2009 07:42 AM

Oh, I am so glad the Mr Stanford has managed to get himself a lawyer, the poor man must be suffering so much, having all his hard earned stolen money frozen so that he cannot spend any more of his investors life savings. Now all we need is for some more lawyers to come forward and act for the real victims in this matter - the investors. I want to know where Stanford is and where is he getting the money to pay this lawyer? Does anyone think that perhaps he has a few Billion stashed away that the recivers have been unable to find? Hush my mouth for saying such terrible things about that "Honest, Upstanding" Mr Stanford.


March 25, 2009 10:27 AM

Madoff stole Money from rich people; Sir R. Allen Stanford stole money mainly from third world poor people.
What a shame, actually we are talking of the USA stealing money from the poor: Antigua, Mexico, Panama, Venezuela etc.
The USA (C or BAC Banks) ought to buy this Stanford Bank and restore the money to the people.


March 25, 2009 11:04 AM

Looks that there are too many Stanfords out there, not even limited to financial institutions. Check how many politicians really return their donations to the receivership as requested. More less none of them. Look to lawyers for investors, who have no concept, but like to have their share on any recovered, even only offering secretary service for the money. Look to SEC/FINRA, who before knows issues, but step-down to take action in former times, and then in one instant make a unprepared assault on all assets, not even in their jurisdiction. And the honest investor? Praying that somebody gives him back his human rights, to get back his personal properties. But it´s looks all this greedy Stanfords mentioned above have no more interest on him, the investor, because now he has a lack of money. Sounds funny? It isn´t, because it shows the moral and ethical status of our government and institutions, if they don´t step up to correct this, as basic human and tax payer rights. I don´t know, what we will teach our children, when this is the future of our societies, if all this Stanfords can harm honest and hardworking people? Missing confidence. Isn´t that the real and only reason, why we have this financial and economic crisis? And that is not about money, it´s about fulfilling of statements and promises.
But, it looks like it´s not about justice, it´s all about political interests. You trust them? Thats exactly the problem, missing integrity and respect to all of us. I still don´t know, what to teach my daughters on this, but I´m starting to pray with them and I will include all you, because you are part of that mess, you like it or not.

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March 25, 2009 12:47 PM

"considering retaining high-powered Houston attorney Dick DeGuerin to represent him"... Who is going to pay for this high-priced lawyer? Stanford? Sounds like the only money he has is stolen. Is this pro-bono work? I'm sure the defrauded investors will be glad to hear he's using their money to pay for this. Get him a public defender.


March 25, 2009 02:19 PM

This is from one of your victims in Aruba, where you personnaly came when the Exxon refinery closed, to look for clients.
My wish for your birthday is that you be arrested and receive a life sentence,and that you may live a long life.


March 26, 2009 02:31 PM

He said he had a war trunk full of cash when he went to St Croix. In February 2008 he started a 45000 square foot aviation hanger and office , a food pavillion and a lounge area for staff. To start a building of that size he must have money there. All they got was a Yacht in St Croix. Get the people involved in this project and arrest them all. They must have info on SIR ALLEN . Let them suffer like us untill we get to our money.

Stanford Jr.

March 26, 2009 03:50 PM

How can that crook get a lawyer and have our funds use to pay that lawyers. No way. How come the judge does not unfreezze my asset to be able to go to the grocery store and buy food for my kids.

Thank you for your interest. This blog is no longer active.



BusinessWeek's Adrienne Carter, Jessica Silver-Greenberg, and David Henry deconstruct the mysteries of high finance, Wall Street, and hedge funds for pros and ordinary investors. E-mail them directly if you've got tips about big deals, a hedge fund, or even securities industry gossip.

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