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Yes exactly -- -- more about his Bergen Michael allows the chairman and CEO of international business -- corporate due diligence firm get a breakdown for the red flags.
Once again we might have -- joins us now from Naples Florida Mike thanks for joining -- side here we go again.
Buys -- -- -- the you know and now all of a sudden always red flags seem to be popping up.
What do you know about.
When I heard a lot more than I did that few days ago -- but that's some commonalities with the Madoff case any time that you promised.
Stopping -- returns you should be suspicious.
And every time -- micro -- is involved.
I've moved very very carefully in fact it.
Having read the SEC complaint the SEC had difficulty.
In reaching you wouldn't take an antique and there's some question as to whether the order it's actually exist much less conducted in a look at.
And although I get -- so like I guess some of the political connections and the money that apparently are Allen Stanford gave.
Too well connected politicians and anti.
-- -- -- -- -- public filings of Washington it's not illegal to make contributions but obviously.
He had it in his mind to cuddle up to politicians and hopefully influence that thinking on some of his activities there are some points of concern in his background.
In the early eighties it appears he may have gone bankrupt we haven't been able to.
-- direct quote because it is 25 years ago but there's certainly some evidence of having financial difficulties in -- the eighties.
And he was slapped with a default judgment for not paying his back rents on a health club that he was involved in.
-- -- that's -- some of his activities seem to go beyond the flamboyant to.
Have possibly questionable.
An example of that might be -- -- being sued by Stanford University.
Full misrepresenting that copyright in his cricket team activities and in the West Indies.
That concerned that he's over associating himself with the university.
Something he did when he made a charitable contribution to renovate my lead and sound for its house.
Michael broadly and then hitting it sounds like he was wave in the biggest flag and imaginable saying come get me.
And nobody did what we'll -- it.
-- also reflects a much better and -- like he's been in the cross says that the authorities before he's running with trouble with the IRS over ten years ago.
-- -- it it's been widely reported back to the summer of last year that the SEC.
Had been taking more firm action based upon to whistle blowers who had been puts him.
A hobson's choice situation either to stay with the company and continue to commit fraud -- to be five and they apparently took -- -- of course.
You know there are also reports I guess that I've seen that he was fine about 101000 dollars by thin -- wanna be self regulatory.
Organizations I mean what would you recommend to people out there.
How again we've made often and a couple small ones and -- and and Stanford I mean if you know obviously this is going on.
People do what some basic tips for average people out there that they can access to the Internet.
If it's too couldn't be true it probably is but certainly and putting a plug for -- -- your sister companies the Wall Street Journal.
That Factiva service is excellent and I'm replete with.
Stories over the last 25 years that would cause any investor for a very small amounts of money.
A great deal of concern and so go online.
Kick over the -- yourself and and if you -- institutional -- I'm Lucia analysts and also you know -- firms like IPO to -- detailed background check just in case there are some are in direct flights in and and these background.
And Michael if you put in high yield CD and did good ball a lot of this search is good returns that pop up.
They look they smell funny they look funny.
Well I suggest that's a target rich environment for the SEC.
And I would suggest that the SEC enforcement division use Google isn't one of its tools to look for suspicious activity and to move swiftly so investors and the public are protected from the swindlers.
-- often chairman at sea of international business research Mike thank you very much for joining us we appreciate it.
My pleasure -- on the --
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