The sponsor who was just too good to be true

The SEC claim it is a “fraud of a shocking magnitude”. A fraud allegedly committed by a high-profile sponsor of the English cricket team…

Much coverage of the Allen Stanford fraud allegations in the news today, and the sunday papers will surely have their investigative teams crawling all over this one.

I must admit, I had my doubts about the guy the minute I saw him at the launch the Stanford Twenty20 Challenge. The obscene sight of senior cricket administrators and ex-players salivating over a box stuffed with $20m of notes left a sour taste in my mouth. I just coundnt work out why he was doing it - what was the promotional strategy behind such a stunt.

Turns out - it might not have been his money on offer - we shall see!

A fabulous quote in the Guardian today attributed to the Sage of Omaha, Warren Buffett:

“It’s only when the tide goes out that you learn who’s been swimming naked.”