English Cricket and the comments made by players

Sir Allen Stanford scandal: what the key players said

Some of cricket's most illustrious names, both past and present, were implicated in the Sir Aleln Stanford scandal. Telegraph Sport recalls who said what about one of cricket's darkest episodes.

03 Feb 2011

Comments:
"In three years West Indies are going to be the best in the world, mark my words."
Sir Allen Stanford, outlining his vision for Caribbean Twenty20 cricket (Sep 2007)

"Sir Allen is doing a huge amount for cricket in the West Indies and we are keen to help things develop. We are extremely interested in his ideas." Giles Clarke, ECB chairman, on playing a $20million, winner-takes-all Twenty20, against West Indies (April 2008).

"Money like that has never been talked about in cricket. People can abuse us but they are not going to pay my child's school fees in 15 years. To be offered something like that, it's like winning the lottery."
Kevin Pietersen, the England batsman, on the financial implications of the proposed tie-in with Stanford (April 2008).

"I go back to Kerry Packer when I first started, he shook the whole place up. I think what Stanford is doing is shaking it up again."
Sir Ian Botham (June 2008)

"I do not think Mr Stanford is telling the people what he's really about. He is telling people that he wants to revive West Indian cricket but how is a week of Twenty20 cricket going to do that? I am not going to be involved in a farce."
Michael Holding, previously a Stanford supporter (Aug 2008)

"When the pictures came up on the big screen there were a lot of gobsmacked people in our side. Matt Prior was in a state of shock, especially as his wife is pregnant."
Stuart Broad, on seeing pictures of Stanford flirting with several of the England players' partners during a game with Middlesex (Oct 2008)

"He understood that the players were not particularly pleased with the incident. He called both Kevin Pietersen and Matt Prior personally and they have accepted his apology."
A Stanford spokesman, on the flirting incident

"I asked the ECB to do a lot more checking on Stanford. We made it very clear we that we should not enter into this agreement without proper checks but he [Clarke] had already done the deal. The board should resign collectively"
Rod Bransgrove, Hampshire chairman when doubts over the ECB's five-year deal with Stanford began to surface (Oct 2008)

"This is a rehash of old gossip and unsubstantiated allegations."
A Stanford spokesman after confirmation that the businessman's empire was being investigated by US authorities in Feb 2009.

"Stanford and [his] close circle perpetrated a massive fraud based on false promises and fabricated data to prey on investors."
Linda Chatman Thomsen, director of the Securities and Exchange Commission, announcing Stanford had been charged with fraud (Feb 2009).

"I don't know what people would have said at the time had we not done the deal and had we not allowed our players the chance to play for US$20 million. There has been a lot of sagacious hindsight."
Giles Clarke, reacting to calls for him to quit in the wake of Stanford's arrest (Feb 2009).

"I was an ambassador for Stanford - a player face - but that contract has gone. I was very uncomfortable with the whole Stanford thing."
Kevin Pietersen, after Stanford's charge (Feb 2009).

“I know that some are pretending they never trusted him, but I couldn’t do that. I did and I still do. I hope that he is cleared."
Sir Garfield Sobers, ex-West Indies captain and one of Stanford's 12 cricket 'ambassadors' (Dec 2009)

"Its a good thing I take that million US$ from u in the stanford so I can buy Nandos lol cappo!"
Chris Gayle, West Indies batsman, tweets to Kevin Pietersen, after the latter teases him over not being able to afford a slap-up dinner due to not being bought at the IPL auction (Jan 2011)

Baseball stars and others, to get back Stanford funds

Some of alleged swindler Allen Stanford's investors, including baseball star Johnny Damon, will see their funds returned after a U.S. appeals court ruled the receiver in the fraud case may not sue them.

Ralph Janvey, the receiver in the Stanford civil fraud case, had filed a lawsuit to recover "clawback" proceeds from several hundred investors in the firm's offshore bank, which prosecutors say is at the heart of a $7 billion Ponzi scheme.

Stanford, 59, faces civil and criminal charges for leading the alleged scheme related to certificates of deposit (CDs) issued by Stanford International Bank Ltd in Antigua.

Janvey has argued that Stanford clients who redeemed their CDs in the weeks before civil fraud charges were filed, unfairly cashed out and were paid with money stolen from other investors.

But the Fifth Circuit Court of Appeals in New Orleans said in a ruling late on Friday that Janvey had no right to sue the investors and the funds, which have been frozen by a lower court's order since February, should be released.

"We were pleasantly surprised that the receiver has indicated his intent to release the money and not pursue further appeals in this matter," Gene Besen, an attorney who helped recoup $9.5 million for seven current and former Major League Baseball players.

Other baseball players snared by the alleged Stanford fraud who will have their funds released include famed former major league pitcher Greg Maddux and J.D. Drew, an outfielder with the Boston Red Sox.

Stanford Financial Group sponsored numerous leagues and teams in such sports as cricket, golf, tennis, basketball, polo and sailing.

About $275 million in proceeds from certificates of deposit have been frozen in accounts at Bank of New York Mellon Corp's (BK.N) Person LLC, JP Morgan Chase & Co (JPM.N) and SEI Investments Co (SEIC.O), according to court documents.

"The Receiver will continue to carry out his duty to recover assets traceable to the Stanford fraud for the benefit of all investors by pursuing recovery of, where cost justified, improper and/or preferential payments of estate funds," a lawyer for Janvey said in an email.

The U.S. Securities and Exchange Commission, which filed the civil fraud charges, had also opposed Janvey's lawsuit, saying it penalized innocent investors.

"He (Janvey) viewed these funds, which were already frozen, as low-hanging fruit and the Fifth Circuit slapped him back on this money grab," Jacob Frenkel, a former SEC enforcement lawyer and now a partner at Shulman, Rogers, Gandal, Pordy & Ecker.