(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.
San Fran wins the World Series; Sistine Chapel improvements; Kurds moving toward Syria and more national and international news for Thursday, October 30, 2014.
Thursday's Blogs from the Bog!
Paper cites the former ADA's "experience as a prosecutor, his demonstrated integrity, and his ideas for reshaping the [DA's] office" in urging voters to support Keith Stutes Nov. 4.
Louisiana officials have sent a letter to the American Society of Tropical Medicine and Hygiene un-inviting members of the group who have recently been to ebola-affected West African countries from attending the group’s annual conference in New Orleans next week.
Drew Brees and the New Orleans Saints have to find a way to win on the road if they plan to take over first place in the NFC South.
"It is obvious that Louisiana economic performance has not outperformed the South or the United States as a whole and, in fact, has substantially underperformed..."
A state district judge said he will rule Friday on a preliminary injunction to keep some charter schools from receiving $60 million through Louisiana's public school financing formula.
Saints fans were to gather, make merry, eat/drink compliments of a new Downtown group and watch the Saints beat Carolina and claim 1st place in the NFC South. But...
Three bedroom traditional or four bedroom traditional in Lafayette
Our fav dress for all seasons
Acadiana's nightlife guide.
New Orleans Saints running back Mark Ingram doesn't see his dramatic spike in production as any sort of validation.
U.S. Sen. Mary Landrieu is facing off one last time with her two main Republican challengers before next week's election.
Shoppers familiar with Louisiana-based Rouses Market might be surprised when they walk into the new third location set to open at the Corner of Johnston Street and Duhon Road south the Acadiana Mall on Wednesday.
Noted architect and co-founder/principal of Architects Southwest receives highest honor given to former student.
Know an innovator, job creator and visionary with a penchant for hard work? We want to know that person.
He’s pulling for Knezek and Hidalgo on his end of the parish but issued endorsements in three other districts as well.
Actually he’s not, but in this age of say anything, which the Harson campaign has perfected, we thought, ‘What the hell?’
Easy on shape, big on style
Four bedroom Lafayette home or a four bedroom Scott home
"This week, the Advertiser Editorial Board announced endorsements of Lafayette Parish School Board candidates. While I respect the newspapers’ right to make these endorsements, I do not agree with them."
In the vein of her literary hero Ernest Gaines, San Francisco Bay Area writer Natalie Baszile transforms a crop that’s mundane to some into a lush, beautiful thing and creates a world within her characters where relatives arrive in steady waves “like a river’s rising tide” and the soil is “dark and rich as ground French roast.”
If you care about the wellbeing of Louisiana’s college students, vote against Amendments 1 and 2.
Acadiana's nightlife guide.
Off a narrow gravel road running between a handful of mostly abandoned lots near a Mississippi River levee, down past sprawling oak trees and thick weeds, a lectern framed by banana trees has been set up in front of three short rows of folding chairs.
Hillary Rodham Clinton is heading to New Orleans this weekend to stir up voter support for Democratic U.S. Sen. Mary Landrieu.
Saints coach Sean Payton has spent much of his team's erratic season trying to build his players up.
The Daily Advertiser has weighed in on this year's LPSB elections with nine endorsements.
A Mandeville media consultant with big name political connections pleaded guilty Monday to a series of federal mail fraud charges.