(Editor's Note: Through her attorney Alan Breaud, former Stanford Group Co. financial advisor Tiffany Angelle says the story below includes untrue information. “She is quite upset about the article and the damage to her reputation,” Breaud writes in an e-mail. “She has never given a Rolex or any other gift to get someone to invest.” In a phone interview, Breaud also said Angelle didn’t take any investors on trips to keep them from withdrawing money. The Independent Weekly has attempted several times to reach Angelle by phone [at the address listed in the lawsuit], but no one answers and there is no machine set to accept messages.)
When a Lafayette investor was threatening to pull his money out of Stanford Group Co., local financial adviser Tiffany Angelle set about to change his mind, flying the investor to the West Indies Island of Antigua, where parent company Stanford International Bank is headquartered. He was lavishly entertained and presented an expensive gift: a Rolex watch.
Such extravagancies (anyone ever go to a Stanford-sponsored LSU tailgating party?) appear to have been a common tactic for a company the SEC alleges was operating a Ponzi scheme that has cost victims more than $9 billion, most of which was sent to Antigua. Now more of those alleged victims are seeking to recover $6.5 million from 10 investment advisers in Louisiana, The Advocate reported yesterday. Seven of those advisers are in Baton Rouge, and three others are in Denham Springs, Zachary and Lafayette. Angelle and Hank Mills of Baton Rouge, who also worked in the Lafayette office in River Ranch, are among them. A lawsuit was filed in Baton Rouge last month by 10 investors; this suit, filed Wednesday in district court in Texas, is the first to name Angelle, who worked out of the Lafayette office.
According to The Advocate, 66 financial advisers in Louisiana and seven other states were sued for more than $40 million by a court-appointed receiver attempting to recover billions from R. Allen Stanford’s companies. The suit was filed on the heels of the receiver's request that the court release accounts held by Stanford Trust Co., which is based in Louisiana.
“These amounts were paid to the financial advisers as compensation for soliciting their clients to purchase certificates of deposit from Stanford Group Company’s affiliate, Stanford International Bank, Ltd.,” Dallas-based receiver Ralph S. Janvey said in a written statement.... In return for placing investors’ money with the offshore bank, Janvey alleged, advisers often received a 1 percent commission. He said an adviser could earn an additional 1 percent commission if the money remained with Stanford for the term of the deposit. “Significant portions of the bank’s portfolio were misappropriated by … Allen Stanford and used by him to acquire private equity investments and real estate,” Janvey alleged.
Investors are seeking $1.4 million from Mills, and $675,664 from Angelle, whose address in the suit is listed as the 400 block of Boulder Creek Parkway in Lafayette. The INDsider was unable to reach Angelle by phone at that address. Read the rest of The Advocate story here.
Hot style for fans (and beyond) > The easy dress for game day is perfectly done for fall with a flat boot. And few colors make a statement like bold red. Perfect for Cajun girl fans now and everyone all year long. Brother's on the Blvd. is home to this precious little red dress that can do day with brown boots or night with sexy heels. At Maven Womenswear the body con midi dress is just right for low moto boots. And at Vertage a red dress with stripe trim is laid back cool with bare legs or svelte leggings.
Four bedroom Acadian or three bedroom traditional
Prestigious honor annually recognizes a single attorney for excellence in public interest/pro bono work.
Acadiana's nightlife guide.
"I have never seen anyone who worked harder for our people than Sen. Mary Landrieu, so I would like to share a synopsis of a few of the many things she has done to help Louisiana."
Even if Jimmy Graham's production dips while the star tight end recovers from a shoulder injury, it looks like Drew Brees won't have much trouble finding other targets.
A former campaign manager for Senate candidate Rob Maness is striking at the Republican contender's tea party support, saying Maness only sought to appeal to conservative organizations because he needed money for his campaign.
Ninety-two percent of public school teachers were rated either effective or highly effective in a report the state issued marking the second year of a new statewide evaluation process.
Corporations spending in state elections; Kenny G and Hong Kong; states resist gay marriage and more national and international news for Thursday, October 23, 2014.
Thursday's Blogs from the Bog!
School board members Mark Babineaux, Hunter Beasley and Tehmi Chassion can vote to fire Cooper — because we all know that’s exactly what they’ll do.
District 2 school board candidate Simon Mahan is hoping to unseat first-term incumbent and former Carencro Mayor Tommy Angelle in the Nov. 4 election.
District Attorney Mike Harson is showing his desperation by falsely attributing quotes to his opponent and blocking journalists from his social media.
Three bedroom Acadian or a two bedroom town home
Ready to geaux in purple and gold
The governor is traveling the country laying the groundwork for a possible 2016 presidential campaign, but his approval ratings at home hover well below 50 percent.
State District Judge Bob Downing extended the order and delayed a planned Wednesday hearing about a permanent injunction while negotiations continue between Attorney General Buddy Caldwell and the waste disposal site operator.
New Louisiana higher education commissioner Joseph Rallo will be paid more than his predecessor.
The recently established Downtown Lafayette Restaurant & Bar Association will host a special viewing of the upcoming New Orleans Saints taking on the Carolina Panthers in the open air of Parc Sans Souci on Thursday, Oct. 30.
Belief in a national outbreak of the Ebola zombie virus is becoming more of a threat every day, and The Hayride — Louisiana’s one true bastion for unrelentingly conservative political commentaries — thought it wise to share a certain special someone's “important message” with readers Tuesday on what to do when, not if, it comes.
Acadiana's nightlife guide.
Elijah McGuire and Alonzo Harris each had four rushing touchdowns, and Louisiana-Lafayette rolled to 419 yards on the ground in a 55-40 victory over Arkansas State on Tuesday night.
Bill and Hillary Clinton are the validators-in-chief for Democrats struggling through a bleak campaign season in states where President Barack Obama is deeply unpopular.
JPMorgan Chase is giving $1 million to Louisiana's community and technical colleges, to help with workforce training efforts to match students to available jobs.
President Barack Obama is turning to black radio listeners to plead for midterm votes, a targeted approach to drum up Democratic support at a time when many candidates don't want him around in person.
Law firm unveils newly renovated 200-year-old building.
UL grad named web developer at BBR Creative
Lafayette-based emergency department staffing and management company raises $120 million in senior credit facilities through GE Capital, Healthcare Financial Services.
High-rise apartment building, parking garage, hotel and retail part of new development.
A common thread runs through many of those we oppose: Enshrining in the Constitution protections on programs and their funding sources has had a disastrous effect on Louisiana’s most important economic development engine.