BCB silent over Stanford fraud
Bermuda Cricket Board have refused to disassociate themselves from disgraced billionaire Sir Allen Stanford.
Despite repeated attempts by this newspaper to have questions answered, the BCB have stayed silent except to say that they 'don't comment on speculation'.
In the last week, the West Indies Cricket Board, the England and Wales Cricket Board and several English county clubs have all severed their ties with the entrepreneur suspected of instigating an $8 billion Madoff-style fraud.
And yesterday the court-appointed receiver charged with getting the money back wrote to several politicians and political parties in the US asking them to return the money they received in contributions for recent campaigns.
The letters included a list of dozens of senators and representatives and the individual contributions, ranging from $250 to $45,900. The committee contributions ranged from $133,345 to $965,000.
"By returning such amounts to the receivership estate, you will help reduce the losses suffered by victims of the alleged fraud," wrote receiver Ralph S. Janvey.
On Saturday, Sports Minister Glenn Blakeney urged the BCB to return the almost $500,000 the BCB have received from Stanford as part of the agreement to take part in the Stanford 20/20 competition.
"From a moral point of view, if it is proven that he is guilty, then absolutely the money should be given back," said Blakeney. "I would be remiss if I did not say that I have full confidence in the Bermuda Cricket Board they they would do the right thing, at the appropriate time."
Stanford, accused in a Securities and Exchange Commission civil lawsuit of a "massive" fraud, was served with legal papers by FBI agents last week but has not been charged with any crime, and denies any wrongdoing.
The SEC allege that about $8 billion of so-called certificates of deposit were effectively mis-sold to investors on the back of dubious promises of huge profits.
On the back of the allegations, the ECB said England would not take part in any more Stanford Twenty20 matches in Antigua while this year's Stanford-sponsored international quadrangular event, scheduled to begin at Lord's in May, would not now go ahead.
The West Indies board have also suspended contractual negotiations with Stanford whose privately run, but officially endorsed, Twenty20 series in the islands has proved highly lucrative.
Stanford has also reportedly yet to pay the West Indies Cricket Board a $3.5 million fee for November's Twenty20 tournament.