Stanford and the high life on Antigua

Guardian:

Sir Allen Stanford, the Texas billionaire, has been accused this week of a multiplicity of sins, from perpetrating an $8bn fraud to links with drugs running. So far, though, no one has thought to reproach him on grounds of modesty.

The reason why is obvious the moment a visitor steps out of the arrivals lounge at Antigua's international airport. Just to the left is the Stanford Cricket Ground, scene of last November's controversial Twenty20 match between the Stanford Superstars and England, with its $20m jackpot. Behind that is the Bank of Antigua, owned by Stanford. Straight ahead is a lavish colonial mansion with majestic columns and cascades of flowering bougainvillea, home of the Stanford International Bank where the alleged fraud is said to have been focused. To the right is the Sun, the largest newspaper in Antigua, proprietor: Sir Allen Stanford.

Go further to the right and you come to a port which Stanford has plans to develop. Once complete, it will be connected to a private arrivals centre at the airport, allowing Stanford to walk straight from his private jet to a deep sea marina where his super yacht will be waiting to carry him across to Maiden island - which he also happens to own.

As the banking and sporting empire that Stanford has built up over the past 30 years crumbles, with US financial regulators digging into his affairs and the FBI now involved, the spotlight has been on his international dealings. But for little Antigua this is personal. As the island's prime minister, Baldwin Spencer, once put it: "This man has a lien on our whole country."

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There is much more. I know I have been doing several post on this guy, but it is still hard to comprehend his audacity and hubris. It is in a class by itself. I don't know how much his honorific cost him, but he seems to be getting his money's worth out of it in the British papers.

I can remember when I was impressed with the title Sir Winston Churchill. It seems rather debased these days.