The Independent Weekly is fighting an attempt by a former Stanford Group Company vice president, Tiffany Angelle, to use legal means to obstruct the paper’s coverage of the Stanford scandal’s effect on the Lafayette community. In May Angelle filed a defamation suit against the paper in connection with our reporting of the Stanford debacle, which the SEC characterizes as “a fraud of shocking magnitude that has spread its tentacles throughout the world.” Last week flamboyant financier R. Allen Stanford and six others were indicted in the case, an alleged $8 billion investment scam involving so-called CDs purchased through Stanford International Bank.
Stanford is charged with fraud, conspiracy and obstruction in the case. Just days before that, the Louisiana attorney general’s office announced that it is moving forward with a formal criminal investigation in the state. David Caldwell, head of the public corruption and special prosecutions unit, has since made it clear the federal investigation is separate from his, saying the feds are going after the “whales” but he is after the “sharks” responsible for the hundreds of hard-working Louisianans who have lost millions — among whom are people who saw their life savings disappear overnight. Some of those people are from right here in Lafayette, your neighbors, your friends.
This is clearly a matter of extreme public interest, and The Independent Weekly believes there are strong measures in place to protect its free speech rights, as well as the rights of the Stanford victims and others with knowledge of the company’s local operations. In 1999, the Louisiana Legislature declared that there had been a disturbing increase in lawsuits brought primarily to chill the valid exercise of the constitutional right of freedom of speech. The Legislature also asserted that it is in the public interest to encourage continued participation in matters of public significance, and that this participation should not be chilled through abuse of the judicial process. To that end, the Legislature enacted the Special Motion to Strike, also called the Louisiana Anti-SLAPP (Strategic Lawsuit Against Public Participation) statute, and declared that it be construed broadly. Louisiana is one of several states in the U.S., along with Canada, Australia and Europe, to enact this type of legislation to quickly and effectively dismiss SLAPPs — and allow the media to uncover the truth.
Last week’s federal charges allege Stanford and his co-conspirators were part of a scheme to defraud investors. Because the alleged fraud was perpetrated on investors across the globe, the story has generated thousands of television, online and newspapers investigative pieces; since February when federal agents raided Stanford’s offices, news outlets have tracked the story daily. Some of those stories and several lawsuits allege negligence on the part of the financial advisers, including Angelle, who has also been named a relief defendant in the court-appointed receiver’s suit. The receiver is seeking to recover almost $700,000 in commissions she collected over a two-year period on the sale of the bogus CDs alone. The CDs were so lucrative for the advisers that the incentive program, which included high commissions and lavish bonuses, was known among some Stanford advisers as “bank crack.”
Additionally, in court documents in Texas, two former Stanford advisers maintain the company encouraged and in some cases mandated the use of unethical and illegal practices in promoting and selling the CDs. The former employees also allege the company’s advisers did not report their clients’ interest in foreign bank accounts to the Treasury Department as is required by law and claim that in 2006 Stanford management ordered the removal and/or destruction of significant amounts of information in clients’ files and purged electronic data from the company’s computers when it learned of an ongoing SEC investigation into Sanford’s CD sales practices.
Just how much did Tiffany Angelle, who was with Stanford Group Company at the time, know? How much should she have known? Was she aware of any alleged attempts to hide information from the SEC? Those who handed their millions over to her would like to know.
We intend to give them answers.
A hearing on the Special Motion to Strike in the matter of Tiffany Angelle vs. The Independent Weekly is scheduled for Monday, June 29, in state district court in Lafayette.
By now, the story of how longtime LSU coach Dale Brown discovered Shaquille O'Neal has been told many times: Brown happened upon a massive 13-year-old at an army base in Germany, stayed in touch with him and eventually became like a second father.
Fate simply wasn't ready to give the New Orleans Saints a break from longtime nemesis Steve Smith.
Pot industry gearing up for holiday shoppers; uncertainty in Ferguson; Patriots' winning streak and more national and international news for Monday, November 24, 2014.
Monday's Blogs from the Bog!
Lafayette Police have had a busy day.
Gov. Bobby Jindal's administration will use $130 million in patchwork financing from a tax amnesty program, insurance settlement, uninsured motorist penalties and other excess funds to close most of the state's midyear budget deficit.
Democratic U.S. Sen. Mary Landrieu said she disagrees with President Barack Obama's actions on immigration, hoping the latest controversy doesn't worsen her campaign difficulties.
Gay-rights advocates challenging Louisiana's same-sex marriage ban announced Thursday that they have asked the U.S. Supreme Court to review their case before it is heard by a federal appeals court.
Thinking himself the “son of God,” the man charged with the 2013 killing of an officer of the Chitimacha Tribal Police will not stand trial following a ruling Thursday on his mental competency.
Either Saints coach Sean Payton doesn't want to tip Baltimore off as to who'll start in New Orleans' secondary on Monday night, or he really doesn't know yet.
The Ethics Board gives the lame duck Youngsville mayor permission to offer a sweet parting gift to the community he’s presided over for three terms.
The money came through a general obligation bond sale Thursday.
A legend in the Acadiana Oil Patch, Comeaux died Monday, Nov. 17.
With a growing number of alleged sexual assault victims coming out against Bill Cosby in recent weeks, upcoming projects have been canned by NBC and Netflix, but that won’t affect the once-loved comedian and actor’s scheduled performance in Lafayette.
The Baltimore Ravens' retooled secondary had no trouble against a rookie quarterback at home. This week, however, their task is far more challenging: stopping Drew Brees on the road in New Orleans.
Add Texas Gov. Rick Perry's name to the list of possible Republican presidential candidates flooding the campaign trail for GOP Senate candidate Bill Cassidy.
Gov. Bobby Jindal is in Florida this week with his fellow Republican governors for another gripe session aimed at their favorite target, the president, this time taking aim at his immigration plans.
Early voting for the runoff is shortened by two days because of the Thanksgiving holiday.
“Coach Don” Gagnard is running for school board. Today he offers his critique of the socioeconomic relationship between government subsidies and obesity.
Former Le Rosier chef who cooked at the James Beard House and was named one of the “Best New Chefs in America” by Food & Wine magazine in 1995 was 48.
Pat Cooper is contesting his termination by the LPSB, filing a petition Tuesday that calls the recent decision “arbitrary and capricious.”
A look at the numbers highlights the challenge facing Louisiana Sen. Mary Landrieu as she tries to win a fourth term in a Dec. 6 runoff against Republican Rep. Bill Cassidy.
Incoming Senate Majority Leader Mitch McConnell is promising the new Republican majority will quickly resurrect Keystone XL pipeline legislation killed by Democrats, potentially setting up an early 2015 veto confrontation with President Barack Obama.
A national animal rights group has been rebuffed by a Baton Rouge district court judge, although the group might still get its day in court.
The administration says public college campuses won't be on the chopping block.