Stanford International Bank

Stanford International Bank was a financial institution founded by Allen Stanford, operating primarily in financial services and investment products. It promoted high-interest certificates of deposit, attracting many investors with the promise of significant returns. However, in 2009, it was exposed as part of a massive Ponzi scheme—an illegal setup where new investors' money is used to pay older investors—leading to its collapse. The scandal resulted in significant financial losses for thousands of clients and the arrest of Allen Stanford. The case highlighted the importance of due diligence and the risks associated with unregulated investment schemes.