R. Allen Stanford, the investment guru accused in an $8 billion international fraud scheme, has yet to surface. But new facts about him and his political connections are coming to light. Marketwatch.com is reporting that he spread more than $7 million in political donations across Washington in recent years. He gave to the Obama campaign, and other Democrates, including House Speaker Nancy Pelosi, according to ABC News. Investors from Central America to Memphis are claiming Stanford lied to them. The Memphis Commercial Appeal reports that federal investigators raided Stanford offices in Memphis earlier this week.
An unknown number of Nashville investors also claim they were duped. The International Herald Tribune says Stanford owns more than a 10 percent stake in Forefront Holdings Inc, a Brentwood, Tennessee provider of golf supplies.