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Investment fraud suspect Stanford was major political donor

Robert Allen Stanford, his firm, or its employees are said to have delivered $2.4 million to political operations since 2000.

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Until 2000, Robert Allen Stanford had no record of giving money to anyone in Washington. But then the Clinton administration introduced legislation to crack down on international money laundering.

Suddenly Mr. Stanford, whose company ran a bank in Antigua, made a lot of friends, spreading money to both political parties and their leaders. The legislation languished in a Senate committee until the terrorist attacks of 9/11 convinced Congress it needed to act.

Stanford, accused by the US Securities and Exchange Commission (SEC) of an $8 billion fraud, continued to give money to scores of members of Congress, as well as the Obama presidential campaign.

The contributions, along with those from accused swindler Bernard Madoff, once again raise questions about the relationship of the rich and sometimes fraudulent to America’s lawmakers.

The campaign contributions are “one vehicle to try to influence and skew policy,” says Sheila Krumholz, executive director of the Center for Responsive Politics (CRP), which follows campaign contributions. “Often the efforts are too brazen.”

Donations of $2.4 million

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