Case 4:09-cr-00342 Document 875
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UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION UNITED STATES OF AMERICA, Plaintiff vs ROBERT ALLEN STANFORD, Defendant
§ § § § § § §
CRIMINAL DOCKET 4:09-342-1 HONORABLE DAVID HITTNER
DEFENDANT’S RESPONSE TO THE GOVERNMENT’S SENTENCING MEMORANDUM TO THE HONORABLE JUDGE HITTNER: Robert Allen Stanford submits this sentencing memorandum and would show as follows: OBJECTION TO THE GOVERNMENTS “SENTENCING MEMORANDUM” 1. In a motion dubbed “sentencing memorandum”, the Government repeatedly decries Mr. Stanford’s legal filings claiming that the Government is “offended” at Mr. Stanford’s legal arguments. Continuing along a wellworn path the Government repeatedly replicates its now familiar, worn-out arguments using terms like “predator”, and files matters in the public forum in an attempt to further enrage public opinion by continuing to distort facts, and ignore reality. Their latest public filing again claims that Mr. Stanford orchestrated a Ponzi scheme and is now asking for time served. In filing such a document the Government is once again embarking in factual
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manipulations and “spin” worthy only of a political campaign for national office.
Because the Stanford companies did not engage in a “Ponzi”
scheme, but made actual investments, and engaged in actual business activities the Defendant moves this Court to sentence him in accordance to the motions and legal arguments before the Court.1
NOT A PONZI SCHEME 1. In a Ponzi scheme, a swindler promises a large return for investments made with him. The swindler actually pays the promised return on the initial investments in order to attract additional investors. The payments are not financed through the success of the underlying venture but are taken from the corpus of the newly attracted investments. The swindler then takes an appropriate time to abscond with the outstanding investments."
United
States v. Cook,573 F.2d 281, 282 (5th Cir. Tex. 1978) (emphasis added). For example, courts which have described Ponzi schemes limit such descriptions to circumstances which the individual accused invested no monies and basically ran a scam where there were no businesses at all and absolutely no investments, for example in Hsu the Accused told the investors that the Companies were engaged in the lucrative and low-risk
1
Unlike the Government, Counsel will follow well established rules and not discuss in a public filing matters, which are under seal. 2
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business of providing short-term financing to small, high-end, retail companies. In fact, there was no such business, as there were no such Companies: Hsu had invented them as the seemingly legitimate front for what turned out to be a multimillion-dollar Ponzi scheme. United States v. Hsu, 669 F.3d 112 (2nd Cir. 2012) (emphasis added). Or in Alfonso, the Accused operated a Ponzi scheme, through which he obtained funds from investors by fraudulently claiming that he would invest their money in promising real estate ventures. He made no such investments however, and used the money instead for his own personal use. United States v. Alfonso, 479 F.3d 570, 572 (8th Cir. 2007) (emphasis added). Both of these cases further demonstrate why the Stanford companies were not a Ponzi scheme, unlike the individuals accused in those matters Stanford made real actual investments. 2. It was clearly shown at trial that Stanford actually made investments. He made investments in real estate, private equity; he invested and created foreign banks, foreign and domestic investment companies and airlines. There were investments, which among other matters created banks in Panama, Ecuador, Venezuela and Peru.
Stanford also established
investment companies in those countries and others countries such as Switzerland and Mexico. See exhibit A. Through a web of interconnected 3
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companies, Mr. Stanford created a synergy whereby Stanford companies supported, complemented and enhanced one another. The Government in its filing repeatedly proclaims that these businesses had no value. For example, the Government continues to harp on investments in companies such as start up airlines. What it fails to relate is that today Stanford International Bank has an equity interest in Liat Airline: Q. Do you understand that that amount for loans includes $333 million that went to Mr. Stanford's commercial airlines which, as of December 2008, have been closed down? A. Well, that's where you're misstating, counsel, because they also receive an interest in Liat, which is an airline. So, they had value that they obtained in closing the airlines down. They received shares in an airline that's in existence today. Q. Who received the shares? A. I believe it was Stanford International Bank. Tr. 7663; 7430-31. The fact is that right up to the intervention by the United States the Bank had sufficient assets to meet its liabilities when taking into account liquid and non-liquid assets. 3. The Government also glosses over the fact that Mr. Stanford had never sold equity to any of his depositors. The purchasers of Stanford International Bank certificate of deposits were engaging in a contract with a foreign bank. That contract promised a specific rate of return at a set time. Once the money was invested with the Bank it was the Bank’s money, the depositors were owed monies pursuant to the contract. A certificate of deposit is a loan 4
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from the depositor to the bank. Atkinson v. Federal Deposit Ins. Corp., 635 F.2d 508, 511 (5th Cir. 1981)(“A certificate of deposit is a “written acknowledgement by a bank of the receipt of a sum of money on deposit which it promises to pay to the depositor…whereby the relation of debtor and creditor between the bank and depositor is created.”). The Supreme Court has long held that “the deposit of money by a customer with his banker is one of loan…” Davis v. Elmira Sav. Bank, 161 U.S. 275 (U.S. 1896). The Supreme Court has referred to bank deposits as loans “in which the depositor for his own convenience, parts with the title to his money, and loans it to the banker; and the latter, in consideration of the loan of the money and the right to use it for his own profit, agrees to refund the same amount or any part thereof, on demand.” Marine Bank v. Fulton Bank, 69 U.S. 252, 256, 17 L. Ed. 785 (1865). Therefore, Stanford never promised that the investments would make money and that money would directly repay investors. The depositors as debtors of the bank had a right to a set interest rate and redemption at a set period of time. Therefore, the Government’s continued proclamation that this mater involved a Ponzi scheme is more “spinning”. 4. A simple demonstration of typical government double-talk is demonstrated by comparing their closing argument with their “Sentencing Memorandum”. 5
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At closing, Counsel, who drafted the public “sentencing memorandum” said: “Is it okay to lie? That's what this trial, after all the witnesses, all the documents, all the talk, really boils down to. Allen Stanford did lie. He told depositors in his bank that it was using their money in one way, and the truth was completely different.” Tr. 7965. Although Ponzi scheme makes for a great sound bite and may help defer the fact that the Government has missed, on all cylinders, uncovering the shenanigans of the banks and other financial institutions in 2008 and 2009, it simply does not describe what Stanford was or what Stanford did. THE GOVERNMENT’S FILING IS FRAUGHT WITH INACCURACIES AND HALF TRUTHS 5. As noted above the Government’s filing is full of just plain inaccuracies. Due to the volume of inaccuracies, Mr. Stanford will simply highlight some in this filing. 6. In its “Sentencing Memorandum” the Government describes what Mejia claimed he witnessed or understood. First the filing fails to remind the Court that through cross-examination it was demonstrated that Mr. Mejia was simply guessing and assuming what he was testifying about. More importantly it fails to mention that the Government filed a motion under seal begging the Court to not allow Counsel to cross-examine Mr. Mejia about the actual cause of Mr. Mejia being fired. It fails to mention their own 6
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witness, the witness they called shortly after Mr. Mejia, was aware of the reason for Mejia being fired and well aware of Mr. Mejia’s reputation and even that the Stanford companies were sued because of Mr. Mejia’s conduct. This was subject matter that Counsel sought to introduce into evidence but was not allowed to do so by the Court. This was subject matter, which their own witness was willing to discuss, but the Government objected to it being introduced. Tr. 740. Furthermore, Mr. Mejia was tasked with preparing marketing materials detailing the history of Stanford Financial, by travelling to Mexia, Texas to interview James Stanford and find background materials showing the history of Stanford Financial. Tr. 836-38. Mr. Mejia concluded that, because he could not find any materials documenting the history of Stanford Financial in the Mexia library, that Lodis Stanford did not sell any financial products, such as insurance, since the 1930s, Tr. 839, testifying that “I didn't found (sic) any substantial proof about all this”. Mexia newspaper archives, however, show that Mejia was both incompetent and wrong, and that newspaper records document that Lodis Stanford wrote “large volumes of life insurance, as well as general insurance,” and “has been in the insurance business here [Mexia] since 1933.” See Defense Trial Exhibit 2-3 (Mexia Newspaper articles). 7. The Government then discusses their favorite witness, Mr. Davis. Mr. Davis 7
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claims that Stanford bribed Hewlett, the auditor, and the Government claims Mr. Stanford told Davis that “God sent Hewlett to me”. Mr. Davis testified to a very curious situation however. Davis testified: Q. What did an audit by Mr. Hewlett's firm actually involve? A. His audit activities were very similar to other auditors who were certified and he would verify the amounts listed on the balance sheet and subsequent schedules, such as profit and loss statement, cash flow statements, with one exception. Q. What was that exception? A. He would not verify the amounts in the investment section in a comprehensive way; that is, he did not require a financial statement from the investment houses or investment banks verifying each number in the investment section of the assets. Q. So, what information was Mr. Hewlett given about the bank's assets, the types of assets and the amounts of the bank's assets? A. He was given basically the same information that was in the promotional materials for the bank, as well the government reports, such as FSRC. Q. But was Mr. Hewlett given any underlying documents to back up the numbers that were reported as the bank's assets, like account statements from all the money managers, showing how the money was invested and where it was held? A. No, sir. Q. Did he ask for that documentation? A. Yes, sir, he mentioned requests on a number of occasions over the years. Q. Did he ever make that request of you? A. Yes, sir. Q. When Mr. Hewlett asked you for backup documents, what did you tell him? A. I said that you should have those items and documents and you will have them. Q. How long were you telling that to Mr. Hewlett? A. 16 years. Tr. 3086-07. 8
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8. This demonstrates why Mr. Davis is so unbelievable and simply lacks any credibility. If Mr. Hewlett was in fact being bribed, why would he keep asking for the documents for 16 years? If Mr. Hewlett was in fact part of the conspiracy, why would he even need the documents or request any of them? Davis’s testimony is nonsensical, and just not credible. The Government has claimed that “Through his [Stanford’s] Swiss, slush fund at Societe Generale, Stanford paid Hewlett more than $3.4 million, nearly three times as much as the enormous fees paid on the books. (GX 1610.)” They failed to mention that accountant Morrie Hollander testified that the amounts paid to CAS Hewlett for auditing nine (9) of Stanford’s companies was normal for auditing work, and in fact was lower than the normal rates charged in the industry. Tr. 6918-19; Govt Exh 902, p.2. They also failed to mention that the so-called “slush” account was in fact an account established in the 1980s (April 1987, Tr. 5184) and was a company account. They only person that called it a slush account was the Government and Mr. Davis. These are just some of the many times Mr. Davis “stretched” the truth. While Counsel will be happy to note all the other instances, Counsel assumes that the Court recalls all the testimony and cross examination regarding Mr. Davis stealing from his children or the other matters discussed on cross examination.
9
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9. Next, the Government discusses Libya and Mr. Stanford’s attempts to engage in business with the former Libyan government.
They fail to
mention to the Court that Mr. Stanford did so after consulting with members of Congress and the State Department. One look at Mr. Stanford’s passport will clearly demonstrate that prior to visiting Libya Mr. Stanford surrendered his passport to the State Department and informed them of his intentions to visit Libya. 10.The Government discusses the testimony of Mr. Ron Rossi; however, as with other matters they fail to discuss the fact that Mr. Rossi was fired and then sued Stanford and forgot to mention that he was fired because of his use of inappropriate images on company documents and stylistic differences. Tr. 5777-5778. More importantly, the Government forgets to mention that during his cross examination it was shown that Mr. Rossi did not have a full understanding of what Mr. Stanford’s involvement was in the creation of the annual reports. 11.Additionally, in their “sentencing memorandum”, the Government inaccurately claims that Ms. Kelley Hawkins testified that she saw Mr. Stanford “personally doctoring numbers in the draft financial statements.” Govt Sentencing Memorandum, p.8. The Government misleadingly leaves out Ms. Hawkins’ testimony that many different employees were authorized, 10
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and expected, to make revisions to financial documents, such as various people in the accounting, legal and marketing departments - and did make such revisions as the documents were being drafted, revised and finalized, and that the average corporate document would go through ten (10) such review cycles, where multiple Stanford employees made edits or corrections in each review cycle. Tr. 5783-84. The purpose of the ten (10) review cycle process was to draft, edit and verify the documents and the numbers contained therein. The Government ignores this testimony and misleadingly mischaracterizes a witness’ testimony—Ms. Hawkins here—again. 12.Finally, in their filing the Government claims that Mr. Stanford contacted the government and offered property in his possession in order to induce an agreement to reduce his sentence.
Sentencing Memorandum p.21.
However, what they fail to inform the Court is that Mr. Stanford was attempting to give the property to authorities in order to allow the depositors to obtain the benefits of the property and it was the United States Attorneys, specifically the Asset Forfeiture section, which indicated that due to the fact that the assets in questions were real estate located in a foreign country, the Justice Department is not equipped to take the assets over. The property in question is located in Antigua. The Government also failed to mention that it was Mr. Stanford’s attorneys who suggested that should Mr. Stanford 11
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agree to turn the real estate over then the government should give Mr. Stanford some consideration for his voluntary conduct. Since the Justice Department by its own admission is not in a position to take possession of the property, Mr. Stanford through his civil counsel is attempting to seek other avenues to ensure the property gets to the appropriate authority. Therefore, the Government again has provided factual information to the Court, which does not fully encompass all the relevant facts. SENTENCING DISPARITY 13. 18 U.S.C §3553 reads in relevant part: (a) Factors to be considered in imposing a sentence. The court shall impose a sentence sufficient, but not greater than necessary, to comply with the purposes set forth in paragraph (2) of this subsection. The court, in determining the particular sentence to be imposed, shall consider-. . . (6) the need to avoid unwarranted sentence disparities among defendants with similar records who have been found guilty of similar conduct; and 14.The § 3553(a) disparity factor involves consideration of the need to avoid disparity among similarly-situated defendants nationwide. United States v. Duhon, 440 F.3d 711 (5th Cir. 2006). 12
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15. As noted in 3553 (a) courts should strive to avoid sentencing disparities. In their filing the Government discussed sentencing disparity. Below is a list of cases where the court greatly varied from the guideline calculations in sentencing the individual accused in cases similar to Mr. Stanford. In a variety of cases the courts sentenced financial crime defendants who were facing life imprisonment under the guidelines to a much lower sentence.
CASE
CONVICTION
LOSS
GUIDELINE RANGE
United States v. Christian Milton, AIG, Vice President (3:06cr-00137)(D. Conn. 2009) Ronald Ferguson, CEO, General Reinsurance Corp. (3:2006-cr00137) (D. Conn. 2008) Travis Correll, (N.D. Ga 2008)
Convicted at trial of various counts of fraud
LIFE imprisonment
Convicted at trial of $544 million conspiracy, securities fraud, false statements to SEC, and mail fraud
LIFE imprisonment
Pled guilty to wire $29 million 188-235 fraud (related to (ordered in months Ponzi scheme). restitution)
13
SENTENCE IMPOSED % OF GUIDLINE RANGE 48 months 10% of guideline range; life treated as 470 months 24 months 5% of guideline range; life treated as 470 months
144 months 76% of guideline range (Correll was initially sentenced to 144 months, but later received a further reduction to 108 months under Rule 35.)
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William Ledee, Founder of fictitious insurance company (Cause No. 1:05cr-00015 concurrent w/No. 1:04-cr-623) (N.D. Ga 2007)
John Whittier, Manger, Wood River Partners (Cause No. 1:2007-cr-00087) (S.D.N.Y. 2007)
Richard Adelson, CEO & President, Impath (Cause No. 1:2005-cr00325) (S.D.N.Y. 2006) Jamie Olis, Tax Lawyer, Dynegy (S.D. Tex. 2006)
E. Kirk Shelton, Vice Chairman, Cendant Corporation (Cause No. 3:2002-cr-00264 ) (D. Conn. 2005)
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Pled guilty to making false financial statements, engaging in business of insurance as a convicted felon, mail fraud, conspiracy to commit money laundering, etc. Pled guilty to securities fraud, failure to disclose ownership in excess of 5% of publicly traded security, and failure to disclose ownership in excess of 10% of publicly traded security. Convicted at trial of conspiracy, securities fraud, and filing false reports with SEC.
PSR $88 million The (ordered in indicated a total restitution) offense level of 51, and criminal history category II, resulting in a guideline range of LIFE
70 months 15% of guideline range: life treated as 470 months (varied below type C agreement's cap of 7.5 years)
$88 million 188-235 (ordered in months restitution)
36 months 19% of guideline range
Convicted at trial of: (1) conspiracy to commit securities fraud, (2) securities fraud, (3) mail fraud, and (4) wire fraud. Convicted at trial of (1) conspiracy to commit securities fraud, mail fraud, wire fraud, and false statements to SEC, (2) mail fraud, (3) wire fraud, (4) false statements to SEC, (5) securities fraud
$79 million
$50$100 million (court ordered restitution of $50 million)
Guidelines called for life imprisonment; statutory maximum was 85 years. 151-188 months
42 months 9% of guideline range; life treated as 470 months 72 months 47% of guideline range
$3.275 billion 151-188 120 months (ordered in months 79% of restitution) (1997 guideline range Guidelines were used; 2006 Guidelines would have called for life imprisonment, limited by a statutory cap of 14
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300 months)
Pled guilty to conspiracy to commit securities fraud and wire fraud, securities fraud, false statements to SEC, conspiracy to obstruct justice, obstruction of justice, and false statements. Pled guilty to Stephen Richards, Sr. conspiracy to Vice President, commit securities Computer fraud and wire Associates fraud, securities (Cause No. fraud, false 1:2004-cr-00846) statements to SEC, (E.D.N.Y. 2006) conspiracy to obstruct justice, obstruction of justice, and perjury.
$2.2 billion (according to Government's Sentencing Memo)
Convicted at trial to commit securities fraud, conspiracy to commit bank fraud, bank fraud, wire fraud, interstate transport of property obtained by fraud, bankruptcy fraud, conspiracy to commit perjury, and obstruction of justice
PSR found total loss of $193 million (Court ordered $65 million in restitution.)
Sanjay Kumar, CEO, Computer Associates Int'l (Cause No. 1:2004-cr-00846) (E.D.N.Y. 2006)
Mehdi Gabayzadeh, CEO, American Tissue (Cause No. 2:03-cr0016)(E.D.N.Y. 2006)
$2.2 billion (according to Government's Sentencing Memo)
15
LIFE imprisonment under 2005 Guidelines 188 to 235 under 1998 Guidelines (unclear how District Court resolved dispute over which version should apply.) LIFE imprisonment under 2005 Guidelines 151 to 188 under 1998 Guidelines (Unclear how District Court resolved dispute over which version should apply.) LIFE imprisonment
144 months 30% of Guideline range; life treated at 470 months
84 months 18% of guideline range; life treated as 470 months
180 months 38% of Guideline range; life treated as 470 months
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Convicted at trial of securities fraud, bank fraud, and conspiracy to: (a) commit bank fraud, and (c ) make of cause to be made false statements in filings to SEC Pled guilty to making false VP, statements in reports to the SEC
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Guideline range was LIFE imprisonment; however, statutory maximum was 185 years.
John Rigas, Founder, Adelphia ( 1:2002-cr-01236 ) (S.D.N.Y. 2004)
$2.3 billion
Jacob Jacobowitz, Executive Allou Healthcare (E.D.N.Y. 2007)
$30 million Guideline range 84 months (ordered in was 168 -210 50% of restitution) months; Guideline however, range; 70% of statutory statutory maximum was maximum cap 120 months. $176 million Guideline range 180 months (ordered in would have 38% of restitution) been LIFE Guideline imprisonment; range; life plea agreement treated as 470 structured to months provide statutory maximum of 180 months. $176 million Guideline range 120 months (ordered in was LIFE 25% of restitution) imprisonment; Guideline plea agreement range, life structured to treated as 470 provide months statutory maximum of 120 months.
Herman Jacobowitz, CEO, Allou Healthcare (E.D.N.Y. 2007)
Pled guilty to conspiracy to commit bank, securities, and mail fraud and making false statements in reports to SEC.
Aaron Jacobowitz, Manager of various companies controlled by Jacobowitz family (Cause No. 1:2004-cr-00558) (E.D.N.Y. 2007) Lennox Parris,Director, Queench, Inc. (Cause No. 1:2005-cr-00636) (E.D.N.Y. 2007)
Pled guilty to money laundering.
144 months 31% of Guideline range; life treated as 470 months; 6% of statutory maximum cap
Convicted at trial of Between $2.5 360 months to 60 months conspiracy to and $7 million 16.7% of LIFE commit securities Guideline range fraud, securities fraud, conspiracy to commit witness tampering, and witness tampering.
16
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Raquel Kohler, Mutual Benefit Corp. (Cause No. 1:2007-cr20446)(S.D. Fla. 2007)
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Pled guilty to $471 million conspiracy to (ordered in commit securities restitution) fraud.
Guideline range 60 months 18.5% of 324-405 Guideline months, statutory range; 50% of maximum 120 statutory months. maximum cap
PRAYER Counsel files this motion in response to the Government’s “Sentencing Memorandum”. This motion is meant to supplement all motions previously filed. For the reasons noted above and in prior motions, Counsel prays the Court grant its request in all respects. Respectfully Submitted, SCARDINO & FAZEL
/s/ Ali R. Fazel Ali R. Fazel State Bar of Texas: 24012611 Sweeney, Coombs & Fredericks Bldg. 1004 Congress St., Third Floor Houston, Texas 77002 Telephone: (713) 229-9292 Facsimile: (713) 229-9931 /s/ Ken McGuire Kenneth W. McGuire Federal Admission No. 21917 State Bar No. 00798361 P.O. Box 79535 Houston, TX 77279 Telephone: (713) 223-1558 Facsimile: (713) 335-3340 ATTORNEYS FOR THE DEFENDANT, ROBERT ALLEN STANFORD 17
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CERTIFICATE OF SERVICE Ali R. Fazel certifies that a true and correct copy of this document has been served on the United States Attorney on June 13, 2012 via electronic filing to:
Andrew Howard Warren U.S. Department of Justice 1400 New York Avenue, NW Washington, DC 20005 Telephone: 202-305-4002 Email:
[email protected] /s/ Ali R. Fazel Ali R. Fazel
18
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Sir R Allen Stanford Corporate - Consolidated Balance Sheet as at December 31, 2008 expressed in USD
Sir R. Allen Stanford Corporate w/Elim
Sir R. Allen Stanford Corporate
EDC Companies w/ Elim
SIB, LTD w/ Elim
Services Holding w/Elim
SGH
Eliminations
Assets Cash and Cash Equivalents Due from Related Parties Financial Assets at Fair Value Investments Loans and Advances Fixed Assets Notes Receivable Other Assets Total Assets
322,862,412 650,549 8,329,978,673 325,599,288 489,621,666 559,619,618 213,496,378 87,189,278
322,862,412 71,089,935 8,329,978,673 325,599,288 489,621,666 559,619,618 213,496,378 87,189,278
930,001 13,196,403 0 0 0 69,287,564 0 1,135,022
231,406,222 27,816,263 8,312,896,955 293,827,974 489,621,666 344,162,472 115,229,332 49,435,844
29,297,770 30,077,269 17,081,718 25,263,471 0 109,444,069 33,800,367 11,476,124
61,228,419
10,329,017,862
10,399,457,248
84,548,990
9,864,396,728
256,440,788
194,070,742
70,439,386
70,439,386 6,507,843 36,725,513 64,466,679 25,142,288
Liabilities and Shareholders Equity Liabilities Deposits from Clients Accounts Payable Due to Related Parties Notes Payable Other Liabilities
8,036,929,245 (0) 14,590,052 193,609,098 91,669,518
8,036,929,245 70,439,386 14,590,052 193,609,098 91,669,518
0 6,854,043 (27,580,677) 53,804,325 6,174,771
8,036,929,245 8,234,873 25,999,175 9,030,974 75,514,857
0 10,726,056 12,860,316 122,872,461 6,366,258
44,624,414 3,311,239 7,901,338 3,613,632
70,439,386
Total Liabilities
8,336,797,913
8,407,237,299
39,252,462
8,155,709,123
152,825,091
59,450,623
70,439,386
Shareholders Equity Share Capital Share Premium - Paid in Capital Members Equity Reserves Retained Earnings Current Net Income Minority Interest
86,820,895 2,326,595,246 96,048,331 48,292,197 (279,001,189) (286,540,530) 5,000
86,820,895 2,326,595,246 96,048,331 48,292,197 (279,001,189) (286,540,530) 5,000
1,030 3,266,648 96,048,331 0 (10,314,826) (43,704,655) 0
85,711,551 1,597,142,708 0 40,195,999 152,363,508 (166,726,161) 0
1,106,314 492,220,795 0 8,096,198 (344,450,378) (53,357,232) 0
2,000 233,965,095
Total Shareholders Equity
1,992,219,950
1,992,219,950
45,296,528
1,708,687,606
103,615,697
134,620,119
0
10,329,017,863
10,399,457,249
84,548,990
9,864,396,728
256,440,788
194,070,742
70,439,386
Total Liabilities and Shareholders Equity Equity to Asset Ratio
19.29%
19.16%
53.57%
17.32%
(0)
(0)
(0)
40.41%
(76,599,493) (22,752,483) 5,000
69.37%
0
0
101,777,547 155,134,779
305,919,837 328,672,320
(53,357,232)
(22,752,483)
0.00%
Income Statement Revenues Expenses Net Income
1,101,210,187 1,410,005,753 (308,795,566)
1,510,603,418 1,819,398,984 (308,795,566)
176,645,347 220,350,002 (43,704,655)
926,260,687 1,115,241,883 (188,981,196)
409,393,230 409,393,230 0
6/8/12@7:53 PM
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Stanford International Bank, LTD Consolidated - Balance Sheet as at December 31, 2008 expressed in USD
SIB, LTD w/ Elim
SIB, LTD
SIB, LTD (solo)
Real Estate Holding w/Elim
Banking Holding w/Elim
Investment Banking Holding w/Elim
I/A B/D Holding w/Elim
Eliminations
Assets Cash and Cash Equivalents Due from Related Parties Financial Assets at Fair Value Investments Loans and Advances Fixed Assets Notes Receivable Other Assets
231,406,222 27,816,263 8,312,896,955 293,827,974 489,621,666 344,162,472 115,229,332 49,435,844
231,406,222 34,412,827 8,312,896,955 303,884,773 489,621,666 344,162,472 115,229,332 49,435,844
Total Assets
9,864,396,728
Liabilities Deposits from Clients Accounts Payable Due to Related Parties Notes Payable Other Liabilities
(14,005,047)
5,460,732
1,113,565 13,324,407 0 33,602,236 17,307 261,491,494 4,048,034 12,837,939
201,093,149 3,264,883 48,225,577 168,989,384 317,171,327 20,394,291 2,594,550 17,800,959
381,602 872,923 0 84,510,220 0 21,716,123 108,232,837 518,719
42,822,953 16,950,614 0 16,782,933 53,787 34,272,933 353,911 12,817,494
9,881,050,091
8,434,793,939
326,434,983
779,534,120
216,232,424
124,054,625
16,653,363
8,036,929,245 8,234,873 25,999,175 9,030,974 75,514,857
8,036,929,245 8,234,873 32,595,739 9,030,974 75,514,857
7,431,630,364
601,523,552 988,323 17,464,054 2,434,188 40,591,615
192,419 0 1,511,349 0 1,594
3,582,910 5,278,837 7,835,992 975,647 21,126,937
6,596,564
4,088,363
0 1,967,713 5,784,344 5,621,139 9,706,347
Total Liabilities
8,155,709,123
8,162,305,687
7,435,718,727
23,079,542
663,001,733
1,705,362
38,800,323
6,596,564
Shareholders Equity Share Capital Share Premium - Paid in Capital Members Equity Reserves Retained Earnings Current Net Income Minority Interest
85,711,551 1,597,142,708 0 40,195,999 152,363,508 (166,726,161) 0
102,891,824 1,598,527,341 0 42,366,767 145,967,871 (171,009,399) 0
108,132 426,907,016 0 18,571,261 (109,243,067) (32,987,901) 0
32,438,739 34,721,006 0 18,242,242 28,733,097 2,397,303 0
1,000 232,462,542 0 (332,096) (15,170,472) (2,433,912) 0
60,343,953 24,936,777 0 5,885,360 226,552 (6,138,340) 0
17,180,273 1,384,633 0 2,170,768 (6,395,637) (4,283,238) 0
Total Shareholders Equity
1,708,687,606
1,718,744,405
999,075,212
303,355,441
116,532,388
214,527,062
85,254,302
10,056,799
Total Liabilities and Shareholders Equity
9,864,396,728
9,881,050,091
8,434,793,939
326,434,983
779,534,120
216,232,424
124,054,625
16,653,363
8,264,671,378 172,379,245 6,287,631
6,596,564 10,056,799
Liabilities and Shareholders Equity
Equity to Asset Ratio
17.32%
17.39%
10,000,000 879,500,000 241,421,761 (131,846,549)
11.84%
92.93%
14.95%
99.21%
68.72%
60.39%
Income Statement Revenues Expenses Net Income
926,260,687 1,115,241,883 (188,981,196)
991,879,960 1,185,144,394 (193,264,434)
772,669,248 904,515,797
11,351,911 44,339,812
(131,846,549)
(32,987,901)
120,007,558 120,689,473 (681,915)
3,991,056 6,424,968
83,860,186 109,174,343
65,619,273 69,902,511
(2,433,912)
(25,314,157)
(4,283,238)
6/8/12@7:56 PM
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 3 of 14
Stanford Real Estate Holding Consolidated - Balance Sheet as at December 31, 2008 expressed in USD
Real Estate Holding w/Elim
Real Estate Holding
Torre Senza Nome
SDCL
MIL
SWL
The Island Club
AAC
Guiana Island Holding
Eliminations
Assets Cash and Cash Equivalents Due from Related Parties Financial Assets at Fair Value Investments Loans and Advances Fixed Assets Notes Receivable Other Assets
1,113,565 13,324,407 0 33,602,236 17,307 261,491,494 4,048,034 12,837,939
1,113,565 13,324,407 0 57,587,191 17,307 261,491,494 4,048,034 12,837,939
264,597 13,187,711
2,425,108
633,400 106,744 0 57,587,191 0 221,962,304 3,557,567 7,561,695
25,672,292 425,000 1,297,416
145,953 27,933 0 0 0 841,656 0 1,460,639
61,193 2,019 0 0 0 379,180 65,467 93,081
5,441 0 0 0 0 3,742,917 0 0
0
0
Total Assets
326,434,983
350,419,937
24,787,868
291,408,901
27,397,687
2,476,181
600,941
3,748,359
0
23,984,955
0 1,967,713 5,784,344 5,621,139 9,706,347
0 1,967,713 5,784,344 5,621,139 9,706,347
222,440 5,536,568 1,370,035
1,490,462 205,061 0 7,764,676
17,568 20,680 352,400 387,743
227,021 14,286 3,257,150 1,000,443
10,222 7,603 641,554 553,186
0 146 0 299
23,079,542
23,079,542
7,129,043
9,460,199
778,391
4,498,899
1,212,565
446
0
0
108,132 426,907,016 0 18,571,261 (109,243,067) (32,987,901) 0
109,872 487,760,233 0 18,571,261 (140,086,126) (39,014,844) 0
370 2,939,033 0 0 (2,681,048) (869,979)
Total Shareholders Equity
303,355,441
Total Liabilities and Shareholders Equity
326,434,983
17,307 8,893,145
2,979
23,984,955
Liabilities and Shareholders Equity Liabilities Deposits from Clients Accounts Payable Due to Related Parties Notes Payable Other Liabilities Total Liabilities Shareholders Equity Share Capital Share Premium - Paid in Capital Members Equity Reserves Retained Earnings Current Net Income Minority Interest
Equity to Asset Ratio
92.93%
1,000 30,667,435
18,571,261 1,726,650 (2,743,514)
3,704 422,512,202 0 0 (110,324,715) (30,242,488)
(3,589,452) (459,687)
370 27,246,749 0 0 (24,572,560) (4,697,278)
327,340,395
17,658,825
281,948,703
26,619,296
(2,022,718)
(611,623)
350,419,938
24,787,868
291,408,901
27,397,687
2,476,181
600,941
93.41% (0)
104,428
71.24%
96.75%
97.16%
-81.69%
-101.78%
0
0
0
0
0 809,997 1,679,976
0 4,394,814 0 0 (645,002) (1,899)
0
1,741 60,853,217 0 0 (30,843,060) (6,026,944) 0
3,747,913
0
23,984,955
3,748,359
0
23,984,955
99.99% (0)
#DIV/0!
100.00% 0
0
Income Statement Revenues Expenses Net Income
11,351,911 44,339,812
5,324,968 44,339,812
1,869,352 4,612,866
0 30,242,488
2,593 462,280
2,643,026 7,340,303
(32,987,901)
(39,014,845)
(2,743,514)
(30,242,488)
(459,687)
(4,697,278)
(869,979)
0 1,899 (1,899)
(6,026,944) 0
(6,026,944)
6/8/12@7:57 PM
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 4 of 14
Stanford Banking Holding Consolidated - Balance Sheet as at December 31, 2008 expressed in USD
Banking Holding w/Elim
Banking Holding
Stanford Trust Company Ltd
SASH
Stanford Bank Panama
BOA
Stanford Trust Adminisradora
Stanford Holding Vz CA
Stanford Bank S.A. Vz
Productos Y Servicios
Eliminations
Assets Cash and Cash Equivalents Due from Related Parties Financial Assets at Fair Value Investments Loans and Advances Fixed Assets Notes Receivable Other Assets
201,093,149 3,264,883 48,225,577 168,989,384 317,171,327 20,394,291 2,594,550 17,800,959
201,093,149 3,264,883 48,225,577 210,124,775 317,171,327 20,394,291 2,594,550 17,800,959
11,345,005 2,747,340
Total Assets
779,534,120
820,669,511
Liabilities Deposits from Clients Accounts Payable Due to Related Parties Notes Payable Other Liabilities
601,523,552 988,323 17,464,054 2,434,188 40,591,615
601,523,552 988,323 17,464,054 2,434,188 40,591,615
Total Liabilities
663,001,733
663,001,733
2,140,856
32,438,739 34,721,006 0 18,242,242 28,733,097 2,397,303 0
67,652,692 34,721,006 0 23,221,325 28,197,560 3,875,195 0
Total Shareholders Equity
116,532,388
Total Liabilities and Shareholders Equity
779,534,120
240,673
783,367
236,413
3,368,935
0
26,071,920 0 48,225,577 0 138,493,472 4,987,352 0 6,303,491
32,597,866
477,086
224,081,812
225,111,140
181,613,261 0 0 0 8,423,811
200,807,838
4,824,251
78,768
0
190,037,073
206,101,448
153,133
18,032,902
246,536,166
155
500,000 5,983,983
2,000 348,722
18,195,000 23,600,153
1,112,942
5,221,390
35,209,302
4,651
21,038,681 2,934,346
127,931 (1,567)
7,407,407 4,788,148 0 4,300,811 13,342,295 4,206,078 0
(16,385,475) 0 (6,399,986)
1,273,064 (983,403) (265,893)
29,053,842 (4,792,407) 1,924,325
157,667,779
30,457,010
477,086
34,044,740
19,009,692
1,136,710
31,407,150
41,089,295
46,096
41,135,391
820,669,511
32,597,866
477,086
224,081,812
225,111,140
1,289,843
49,440,052
287,625,461
46,251
41,135,391
14,353,219
96,749,937 275,390
74,935 228,200
209,494 13,953
66,385,345
15,840
110,994,082 11,973,080 1,963,619
613,800
39,818,156
71,554
8,530,228
3,155,032
301,354
868,221
44,345,518 166,704,775 3,821,758 2,594,550 3,773,515
30,411
1,289,843
49,440,052
287,625,461
46,251
42,376 31,989
719,924 15,639,659 1,673,319
41,135,391
41,135,391
Liabilities and Shareholders Equity
Shareholders Equity Share Capital Share Premium - Paid in Capital Members Equity Reserves Retained Earnings Current Net Income Minority Interest
Equity to Asset Ratio
14.95%
19.21%
225,868 1,323,047 591,941
93.43%
100.00%
15.19%
469,359
8.44%
219,102,453
88.13%
63.53%
155 760,869 26,672,844
4,979,083 (548,775) 1,449,685
14.29%
0
35,213,953 0 0 4,979,083 (535,537) 1,477,892 0
13,238 28,207
99.66%
100.00%
0
0
0
0
0
0
0
0
0
121,485,450 120,689,473
19,866,155 16,931,809
27,452 29,019
21,395,697 17,189,619
10,793,076 20,272,280
958,789 1,224,682
2,608,046 683,721
65,720,393 64,270,708
115,842 87,635
1,477,892
795,977
2,934,346
(1,567)
4,206,078
(9,479,204)
1,924,325
1,449,685
28,207
1,477,892
Income Statement Revenues Expenses Net Income
120,007,558 120,689,473 (681,915)
(265,893)
6/8/12@7:57 PM
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 5 of 14
Stanford Investment Banking Holding Consolidated - Balance Sheet as at December 31, 2008 expressed in USD
Investment Banking Holding w/Elim
Investment Banking Holding
SVCH
Stanford Majestic Holding
JS Development
Trail Partners
Eliminations
Assets Cash and Cash Equivalents Due from Related Parties Financial Assets at Fair Value Investments Loans and Advances Fixed Assets Notes Receivable Other Assets
381,602 872,923 0 84,510,220 0 21,716,123 108,232,837 518,719
381,602 872,923 0 104,952,826 0 21,716,123 108,232,837 518,719
Total Assets
216,232,424
Liabilities Deposits from Clients Accounts Payable Due to Related Parties Notes Payable Other Liabilities Total Liabilities
53,871 203,000
5,026 669,923
104,135,191
1,000
321,705
817,635
20,442,606
3,096,406 108,232,837 511,119
7,809,493
10,810,224
236,675,030
216,232,424
8,492,042
818,635
11,131,929
20,442,606
192,419 0 1,511,349 0 1,594
192,419 0 1,511,349 0 1,594
192,419 1,511,349
1,705,362
1,705,362
1,705,362
0
0
0
0
7,600
Liabilities and Shareholders Equity
1,594
Shareholders Equity Share Capital Share Premium - Paid in Capital Members Equity Reserves Retained Earnings Current Net Income Minority Interest
1,000 232,462,542 0 (332,096) (15,170,472) (2,433,912) 0
1,000 232,462,542 23,113,543 (332,096) (15,174,183) (5,101,138) 0
1,000 232,462,542
Total Shareholders Equity
214,527,062
234,969,668
214,527,062
8,492,042
818,635
11,131,929
20,442,606
Total Liabilities and Shareholders Equity
216,232,424
236,675,030
216,232,424
8,492,042
818,635
11,131,929
20,442,606
Equity to Asset Ratio
99.21%
99.28%
8,618,544 (332,096) (15,170,472) (2,433,912)
99.21%
823 (127,325)
100.00%
0
0
3,337,894 (2,519,259)
100.00% 0
11,157,105 (4,534) (20,642)
100.00% 0
0 0 23,113,543 0 (3,711) (2,667,226)
100.00% 0
Income Statement Revenues Expenses Net Income
3,991,056 6,424,968
1,323,830 6,424,968
3,838,864 6,272,776
350 127,675
(2,519,259) 0
3,875 24,517
(2,667,226)
(2,433,912)
(5,101,138)
(2,433,912)
(127,325)
(2,519,259)
(20,642)
(2,667,226)
6/8/12@7:58 PM
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 6 of 14
Stanford I/A B/D Holding Consolidated - Balance Sheet as at December 31, 2008 expressed in USD
I/A B/D Holding w/Elim
I/A B/D Holding
SG Antigua
SG SUISSE
SG Aruba
SG Venezuela
SG Mexico
SG Peru
Stanford Casa Panama
Stanford Bolsa Colombia
Stanford Casa Ecuador
4,277,728 5,920
626,839 43,084
1,109,521 62,361
19,300
16,530,541
233,092
68,069
840,024
74,949
Eliminations
Assets Cash and Cash Equivalents Due from Related Parties Financial Assets at Fair Value Investments Loans and Advances Fixed Assets Notes Receivable Other Assets
42,822,953 16,950,614 0 16,782,933 53,787 34,272,933 353,911 12,817,494
42,822,953 20,000,436 0 16,782,933 53,787 34,272,933 353,911 12,817,494
28,818,235 4,198,545
123,326 325,000 771,383
28,544,721 1,296,727
124,054,625
127,104,447
34,236,489
31,016,461
Liabilities Deposits from Clients Accounts Payable Due to Related Parties Notes Payable Other Liabilities
3,582,910 5,278,837 7,835,992 975,647 21,126,937
3,582,910 5,278,837 10,885,814 975,647 21,126,937
8,236 3,317,557
536,823 14,791
117,299 1,919 325,000
243,433
1,857,992
Total Liabilities
38,800,323
41,850,145
3,569,226
2,409,606
Shareholders Equity Share Capital Share Premium - Paid in Capital Members Equity Reserves Retained Earnings Current Net Income Minority Interest
60,343,953 24,936,777 0 5,885,360 226,552 (6,138,340) 0
60,343,953 24,936,777 0 5,885,360 226,552 (6,138,340) 0
1,000 6,976,180
29,035,547
Total Assets
1,158,653 16,360
93,442 171,381
618,509 14,699,769
48,684 803,016
6,071,342
53,787 1,067,068
3,171,604
47,845
537,089
348,167
16,976,222
3,384,537 6,642,924 287,771 3,815,108
264,259 69,725
32,610
131,247
851,487
167,030
444,218
14,130,340
1,185,471
11,236 1,187,550
2,718,967
35,499
3,049,822
4,680,158
347,673 28,911 823,187
391,959
3,915,083
354,063
8,703,462
7,271,113
4,762,976
21,955,571
1,833,986
3,049,822
29,168 329,365
3,049,822
3,420,469
938,515 345,676 362,876 10,728,791
3,782,550
3,551,716
12,375,858
401,160
8,097 15,737,136
5,877,812
4,650,000
17,178,273 1,035,911
863,021
2,489,746 (1,196,504) (1,166,327)
(1,012,169) (7,098,673) (116,400)
316,381 (575,344) (2,130,286)
2,364 (1,849,648) (1,591,456)
2,170,768 (6,523,568) (4,281,671)
2,346,962 (1,436,746) (340,411)
Liabilities and Shareholders Equity
Total Shareholders Equity Total Liabilities and Shareholders Equity Equity to Asset Ratio
3,582,910
(428,692) 20,103,630 3,586,453
(1,196,595) (98,242)
42,627 3,049,822
85,254,302
85,254,302
30,667,263
28,606,855
(96,051)
2,845,882
7,517,991
3,488,563
1,211,260
9,579,713
1,432,826
0
124,054,625
127,104,447
34,236,489
31,016,461
348,167
16,976,222
8,703,462
7,271,113
4,762,976
21,955,571
1,833,986
3,049,822
68.72%
67.07%
89.57%
92.23%
-27.59%
16.76%
86.38%
47.98%
25.43%
43.63%
78.13%
0.00%
0
0
0
0
0
0
0
0
0
0
2,041,625 2,139,867
30,850,699 32,017,026
16,546,066 16,662,466
1,550,329 3,680,615
335,738 1,927,194
10,644,795 14,926,466
928,209 1,268,620
32,892,309 32,892,309
(2,130,286)
(1,591,456)
(4,281,671)
Income Statement Revenues Expenses
83,860,186 109,174,343
149,644,804 174,958,961
50,097,624 46,511,171
3,757,410 22,933,227
Net Income
(25,314,157)
(25,314,157)
3,586,453
(19,175,817)
(98,242)
(1,166,327)
(116,400)
(340,411)
0
6/8/12@7:59 PM
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 7 of 14
Stanford Services Holding Consolidated - Balance Sheet as at December 31, 2008 expressed in USD
Services Holding w/Elim
Services Holding
SFGC
SA LLC
SA 5555 LLC
SA II LLC
SA III LLC
S Aircraft LLC
S Fondos SA de CV
SDC
SFGL
SAL
SPPL
Stanford Svcs Ecuador
Stanford Corp Svcs VZ
Eliminations
Assets Cash and Cash Equivalents Due from Related Parties Financial Assets at Fair Value Investments Loans and Advances Fixed Assets Notes Receivable Other Assets
29,297,770 30,077,269 17,081,718 25,263,471 0 109,444,069 33,800,367 11,476,124
29,297,770 30,077,269 17,081,718 34,635,160 0 109,444,069 33,800,367 11,476,124
13,157,107 4,501,331
90,860 832,349
3,218,393 328,972
1,609,447 186,290
501 115,897
3,218,393 314,001
33,148,105 30,707,131 961,571
26,626,659
13,971,744
6,717,715
7,723,390
13,960,862
Total Assets
256,440,788
255,275
410,380
205,226
77,865
410,356
62,295
265,812,477
110,938,394
27,805,143
17,929,489
8,718,678
7,917,653
17,903,612
3,476,119
Liabilities Deposits from Clients Accounts Payable Due to Related Parties Notes Payable Other Liabilities
0 10,726,056 12,860,316 122,872,461 6,366,258
0 10,726,056 12,860,316 122,872,461 6,366,258
3,189,870 888,762 49,521,282 4,797,754
236,000
1,152,531
67,406
77,790
1,489,272
24,471,602 55,830
15,888,510 195,608
6,536,095 5,951
8,099,270 6,335
15,888,510 88,851
Total Liabilities
152,825,091
152,825,091
58,397,668
24,763,432
17,236,649
6,609,452
8,183,395
17,466,633
1,106,314 492,220,795 0 8,096,198 (344,450,378) (53,357,232) 0
4,915,353 492,289,551 17,505,695 7,338,709 (355,731,023) (53,330,899) 0
10 392,077,951
3,809,039 68,756 2,181,751
126,060
869,329
(277,401) (114,401)
(216,017) (216,333)
28,463,149
92,828 0
186,870 671,849
3,366,595 8,332,005 17,081,718
(5,018) 17,419
2,838,175
122,478
990,191
604,957
544,409 3,005,648 79,629
17,776
1,209,566
4,301,851
32,410,004
152,655
5,357,869
55,962 14,118
62,196 6,627
115,288 15,508
26,306 12,029
5,092 86,718
49,364
166,019
87,462
5,215
278,542 30,796 271,115 138,632
9,991
3,969,801 11,805,758 2,196,077 759,246
119,444
234,842
218,258
43,550
719,085
101,801
18,730,882
10,000 33,788,204
1,000,000 51,852,014
1,000
95,304
2,450,772
12,051,854
(28,276,710) (1,454,485)
(16,330,413) (4,329,855)
(1,817,232) (524,435)
(8,128) (6,474,625) (930,317)
4,651,338 (302,833) (176,366)
2,865,666 455,330
(283,766) 135,533
4,081,228 51,370
564,332 14,590,253
100,743 41,599
2,244,268 87,588 7,139,629
4,274,940
24,626,070
3,306,345
9,371,689
9,371,689
Liabilities and Shareholders Equity
Shareholders Equity Share Capital Share Premium - Paid in Capital Members Equity Reserves Retained Earnings Current Net Income Minority Interest
103,882 (292,362,712) (47,278,405)
15,185,130
(856,575)
(12,418,971) 275,552
1,776,872 (227,457)
(113,903) 41,378
Total Shareholders Equity
103,615,697
112,987,386
52,540,726
3,041,711
692,840
2,109,226
Total Liabilities and Shareholders Equity
256,440,788
265,812,477
110,938,394
27,805,143
17,929,489
8,718,678
Equity to Asset Ratio
40.41%
42.51%
47.36%
10.94%
3.86%
24.19%
(265,742) 7,917,653 -3.36%
(757,489) (31,225) 267,594
3,349,106 1,114,147 1,336,631
0
3,809,039 68,756 17,505,695 (757,489) (11,280,645) 26,333 0
436,979
3,356,675
4,067,009
32,191,746
109,105
4,638,784
4,173,139
5,895,188
9,371,689
17,903,612
3,476,119
4,301,851
32,410,004
152,655
5,357,869
4,274,940
24,626,070
9,371,689
2.44%
96.56%
94.54%
99.33%
#DIV/0!
86.58%
0
0
0
0
0
0
0
0
0
0
5,216,691 4,941,139
2,222,286 2,449,743
1,081,143 1,039,765
1,086,000 1,200,401
2,162,286 2,378,619
1,061,556 793,962
513,230 1,967,715
1,759,608 6,089,463
(81) 524,354
(1,454,485)
(4,329,855)
(524,435)
97.62%
23.94%
100.00%
0
0
0
0
2,802,600 3,732,917
440,367 616,733
15,570,922 14,234,291
8,621,333 8,595,000
(176,366)
1,336,631
26,333
Income Statement Revenues Expenses
101,777,547 155,134,779
110,398,880 163,729,779
76,482,272 123,760,677
Net Income
(53,357,232)
(53,330,899)
(47,278,405)
275,552
(227,457)
41,378
(114,401)
(216,333)
267,594
(930,317)
6/8/12@7:59 PM
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 8 of 14
Stanford EDC Companies Consolidated - Balance Sheet as at December 31, 2008 expressed in USD
EDC Companies w/ Elim
EDC Companies
R. Allen Stanford LLC w/Elim
Stanford Intl Resort Holding w/Elim
(CDH)
(Stanford 20/20 LLC)
Stanford STX Resort Holdings
Stanford Sports & Ent. Holdings
Eliminations
Assets Cash and Cash Equivalents Due from Related Parties Financial Assets at Fair Value Investments Loans and Advances Fixed Assets Notes Receivable Other Assets
930,001 13,196,403 0 0 0 69,287,564 0 1,135,022
930,001 13,196,403 0 0 0 69,287,564 0 1,135,022
726,398 12,074,180 0 0 0 54,945,649 0 1,037,951
94,613 1,122,223 0 0 0 2,336,285 0 62,811
(31,260)
Total Assets
84,548,990
84,548,990
68,784,178
3,615,932
0 6,854,043 (27,580,677) 53,804,325 6,174,771
0 6,854,043 (27,580,677) 53,804,325 6,174,771
0 6,748,368 (32,367,886) 37,165,972 6,172,219
0 14,726 2,512,538 0 (3,790)
39,252,462
39,252,462
17,718,673
2,523,474
1,030 3,266,648 96,048,331 0 (10,314,826) (43,704,655) 0
1,030 3,266,648 96,048,331 0 (10,314,826) (43,704,655) 0
0 0 78,865,930 0 (2,173,655) (25,626,770) 0
0 0 4,689,847 0 (591,314) (3,006,075) 0
Total Shareholders Equity
45,296,528
45,296,528
51,065,505
1,092,458
11,900,091
Total Liabilities and Shareholders Equity
84,548,990
84,548,990
68,784,178
3,615,932
11,991,040
140,250
12,001,021
4,609
21,279
12,981
11,991,040
157,840
0
Liabilities and Shareholders Equity Liabilities Deposits from Clients Accounts Payable Due to Related Parties Notes Payable Other Liabilities Total Liabilities Shareholders Equity Share Capital Share Premium - Paid in Capital Members Equity Reserves Retained Earnings Current Net Income Minority Interest
Equity to Asset Ratio
53.57%
53.57%
74.24%
30.21%
90,949 2,274,671 16,638,353 6,342 90,949
18,919,366
0
1,030 3,266,648 12,492,554 (592,463)
99.24%
(7,549,857) (14,479,347) (18,761,526)
0
157,840 -11886.41%
0 #DIV/0!
Income Statement Revenues Expenses
176,645,347 220,350,002
176,645,347 220,350,002
Net Income
(43,704,655)
(43,704,655)
174,569,913 200,196,683 0 (25,626,770)
0 3,006,075
152,870 745,333
1,922,564 16,401,911
(3,006,075)
(592,463)
(14,479,347)
0
6/8/12@8:00 PM
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 9 of 14
R. Allen Stanford, LLC Consolidated - Balance Sheet as at December 31, 2008 expressed in USD SFGGM & SGA: Combined Activity
R. Allen Stanford LLC w/Elim
R. Allen Stanford Consol., LLC
R. Allen Stanford, LLC
Cash and Cash Equivalents Due from Related Parties Financial Assets at Fair Value Investments Loans and Advances Fixed Assets Notes Receivable Other Assets
726,398 12,074,180 0 0 0 54,945,649 0 1,037,951
725,398 50,941,090 0 0 0 54,945,649 0 1,037,951
1,000 700
Total Assets
68,784,178
107,650,088
1,700
0 6,748,368 (32,367,886) 37,165,972 6,172,219
0 6,748,368 6,498,058 37,165,972 6,172,219
1,666
17,718,673
56,584,617
0 0 78,865,930 0 (2,173,655) (25,626,770) 0
0 0 78,864,930 0 (2,173,655) (25,625,804) 0
Total Shareholders Equity
51,065,505
Total Liabilities and Shareholders Equity
68,784,178
SFGGM LLC
SGA LLC
SREA LLC
SSS LLC
Eliminations
Assets 409,417 17,653,267
314,137 32,549,096
36,065,966 431,166
1,844 738,727
38,867,610
18,879,683 (2,800)
609,585
0
54,559,816
32,860,433
20,229,839
38,867,610
6,734,821
250 5,419,259
13,297 1,078,799
38,867,610
37,165,972 6,140,902
8,538
22,779
1,666
50,041,695
5,428,047
1,114,875
1,000
54,470,012
1,000
24,393,918
Liabilities and Shareholders Equity Liabilities Deposits from Clients Accounts Payable Due to Related Parties Notes Payable Other Liabilities Total Liabilities Shareholders Equity Share Capital Share Premium - Paid in Capital Members Equity Reserves Retained Earnings Current Net Income Minority Interest
Equity to Asset Ratio
74.24%
38,867,610
(966)
(914,778) (49,037,113)
27,431,386
(1,258,877) (4,020,077)
51,065,471
34
4,518,121
27,432,386
19,114,964
0
107,650,088
1,700
54,559,816
32,860,433
20,229,839
38,867,610
47.44%
2.00%
8.28%
83.48%
94.49%
0.00%
0 Income Statement Revenues Expenses
174,569,913 200,196,683
174,569,913 200,195,717
966
132,239,187 181,276,300
42,232,410 14,801,024
98,316 4,118,393
Net Income
(25,626,770)
(25,625,804)
(966)
(49,037,113)
27,431,386
(4,020,077)
0
0
6/8/2012@8:28 PM
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 10 of 14
Stanford International Resort Holding Consolidated - Balance Sheet as at December 31, 2008 expressed in USD Stanford Intl Resort Holding w/Elim
Stanford Intl Resort Holding
SCI LLC
TIC LLC
Eliminations
Assets Cash and Cash Equivalents Due from Related Parties Financial Assets at Fair Value Investments Loans and Advances Fixed Assets Notes Receivable Other Assets
94,613 1,122,223 0 0 0 2,336,285 0 62,811
94,613 1,122,223 0 0 0 2,336,285 0 0
93,063 1,083,221
1,550 39,002
125,429
2,210,856
Total Assets
3,615,932
3,553,121
1,364,524
2,251,408
Liabilities Deposits from Clients Accounts Payable Due to Related Parties Notes Payable Other Liabilities
0 14,726 2,512,538 0 (3,790)
0 14,726 2,512,538 0 (3,790)
14,726 1,266,932
1,245,606
Total Liabilities
2,523,474
2,523,474
0 0 4,689,847 0 (591,314) (3,006,075) 0
0 0 4,689,847 0 (591,314) (3,006,075) 0
Total Shareholders Equity
1,092,458
1,092,458
86,656
1,005,802
0
Total Liabilities and Shareholders Equity
3,615,932
3,615,932
1,364,524
2,251,408
0
62,811 0
Liabilities and Shareholders Equity
Shareholders Equity Share Capital Share Premium - Paid in Capital Members Equity Reserves Retained Earnings Current Net Income Minority Interest
Equity to Asset Ratio
30.21%
30.75%
(3,790) 1,277,868
1,245,606
3,275,294
1,414,553
(232,962) (2,955,676)
6.35%
0
(358,352) (50,399)
44.67%
Income Statement Revenues Expenses Net Income
0 3,006,075
0 3,006,075
2,955,676
50,399
(3,006,075)
(3,006,075)
(2,955,676)
(50,399)
0
6/8/12@8:00 PM
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 11 of 14
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 12 of 14
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 13 of 14
Case 4:09-cr-00342 Document 875-1
Filed in TXSD on 06/13/12 Page 14 of 14