Stanford adamant there is no fraud and there are no losses
Allen Stanford is adamant there are no losses and that anyone who has asked for their money back has had it - except where regulators have prevented that happening. And he says he will punch anyone who repeats the allegations that his bank has laundered money for drug cartels.
"If it's a Ponzi scheme, why do they keep finding billions here and billions there," he shouted at an ABC reporter who doorstepped him outside a restaurant in a clip broadcast around the world.
He admits he used a private plane - complaining that if you fly commercial "they make you take off your shoes and everything." Totally with you there, Allen, but as most people have to suffer it anyway, it's probably not the best argument to make whilst claiming to live frugally.
Stanford is awaiting the service of proceedings - he thinks perhaps sometime in the next two weeks. At present, most of his assets are frozen by authorities in various countries and several of his companies are in some form of regulator-organised management.
But he remains adamant: he said that the investments underperformed the markets for several years but no one points that out. And then they simply continued to make the same returns when other faltered and that made them stand out, he said.
But the SEC says that his companies made unrealistic claims for the investments they sold - and those allegations are at the bottom of the allegations that the whole thing was a Ponzi scheme.
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