Now, who could have possibly foreseen this?

Texan billionaire and cricket promoter Sir Allen Stanford has been charged over a $8bn (£5.6bn) investment fraud, US financial regulators say.

The Securities and Exchange Commission said the financier had orchestrated “a fraudulent, multi-billion dollar investment scheme”.

The SEC said the fraud was “based on false promises and fabricated historical return data”.

The charges against Sir Allen, three of his companies and two executives of those companies followed a raid by US marshalls on the Houston, Texas, offices of Stanford Financial Group.

A US judge has frozen the assets of Sir Allen and the other defendants as well as those of the Stanford Group, its Antigua-based subsidiary Stanford International Bank (SIB) and another subsidiary, investment advisor Stanford Capital Management.

A receiver has been appointed to “preserve assets for investors”, the SEC said.

Certainly not ECB Chairman Giles ‘Midas Touch’ Clarke, eh, readers?

A Brief History Lesson

1989 – A Convention Of Cunts

2008 – A Cunt In A Chopper

Ministerial memo to British sports administrators: if something seems too good to be true, it usually is.

And talking of sports administrators getting into bed with greedy Chancer cunts, I wonder if Tess of Olympia will send food parcels?

An Italian court has found British tax lawyer David Mills guilty of accepting a bribe of about £400,000 from Italian Prime Minister Silvio Berlusconi.

Mills, the estranged husband of UK Olympics minister Tessa Jowell, was sentenced to four-and-a-half years in jail at a court in Milan.

Following the verdict, she said: “This is a terrible blow to David and, although we are separated, I have never doubted his innocence.”