CNBC Senior Correspondent Scott Cohn, who last year landed the only in-depth interview with flamboyant Texas billionaire Allen Stanford for his investigative story, “Secrets of the Knight: Sir Allen Stanford and the Missing Billions,”has uncovered even more details about how the alleged scheme was perpetrated.
It's been almost a year since Stanford was first accused of running a Ponzi scheme that destroyed many of his investors’ life savings, including that of residents right here in Acadiana. Cohn’s latest installment, “More Secrets of the Knight,” aired last night and will re-air Sunday, Feb. 14, at midnight.
In “More Secrets,” Cohn reports that government may have bungled the case for years. He found that the SEC first learned of potential troubles at the company as far back as 1999, earlier than previously disclosed, but didn’t start a formal investigation until 2005. The Financial Industry Regulatory Authority now acknowledges that it misread flags as far back as 2003, Cohn says, “and state regulators in Texas, Louisiana and Florida did no better.”
Cohn also has an exclusive interview with Stanford's attorney, Kent Schaffer, who claims his client is innocent, and the CNBC reporter further investigates whether Stanford bought influence with members of Congress.Allen Stanford is charged with fraud, conspiracy and obstruction in the alleged $8 billion Ponzi scheme and faces a maximum sentence of 250 years.
Local developer’s Lake Charles Gardens LLC purchases buildings and leases; land still owned by Dugas family.
Economist Loren Scott says Louisiana is in the midst of an industrial boom unlike any other in its history, with more than $100 billion in industrial projects either under construction or in the engineering and design phase.
The Louisiana Treasury holds $18 million in Israel Bonds — bonds that earn 2.868 percent when the three-year U.S. Treasury is yielding 1.08 percent.
ABiz celebrates another class of Acadiana's most influential female trailblazers, the Lourdes Foundation honors a local philanthropist and MedExpress in Opelousas celebrates its 22nd year as the “little ambulance service that could.”
Is Louisiana’s O&G industry ready to head south of the border?
Downtown’s newest live-work space for creatives doubles as a gallery for other upcoming artists to show their work.
A maritime case originating in Lafayette federal court could become a game changer for the oil and gas industry.
Here’s what’s at stake in the November Senate race — regardless of whether Republicans gain control of the upper chamber.
From the publisher’s in-box: ABiz reaches out to Lake Charles, time to “Come Home, Louisiana,” and now accepting nominations for Entrepreneur of the Year.
In late September Cleco and UL Lafayette showed off the Cleco Alternative Energy Center, where researchers explore ways to generate power by using renewable resources.
The most recent promotions, hirings and announcements from Acadiana's biz community.
While Amendments 1 and 2 will shield some health care providers from the budgetary whims of Gov. Jindal, they could make higher ed even more vulnerable to cuts.
Age 60 looks good on the country’s second-largest oil and gas show.
Local pieces and logo-emblazoned corporate gifts
Let’s show how much we care what it looks like.
The Memphis based investment firm Wunderlich recently arrived in Louisiana with the opening of a wealth management branch in Lafayette.
Broussard will soon be the site of a new Courtesy Automotive dealership.
Event addresses the industry’s growing need for qualified employees by providing an industry specific networking event.
Attorney General Buddy Caldwell’s office announced Thursday that AT&T Mobility has agreed to a $105 million settlement with Louisiana and the other 49 states over allegations that the company added third-party charges to AT&T customers’ bills without their consent or knowledge.
Investors aren’t enthusiastic about parent company Gannett’s spinoff plan, and that’s bad news for employees.
Lafayette Consolidated Government was the victor at the 3rd Circuit Court of Appeal in a suit brought against it by a billboard company that argued new(ish) zoning regulations prevented it from making good on a contract.
The state labor department figures released Friday show the initial claims increased to 2,081 from the previous week's total of 1,887. For the comparable week a year earlier, there were 2,456.
The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
The U.S. Attorney in New Orleans says a Slidell man has pleaded guilty to fraud in connection with a claim he filed related to the 2010 Gulf of Mexico BP oil spill.
Lawmakers and business leaders are pressing Gov. Bobby Jindal's administration to pledge the financing needed to keep open a 25-year-old program that helps small businesses apply for government contracts.