Gotcha: Allen Stanford Found

Allen Stanford can run, but apparently he can’t hide forever.

The alleged grifter disappeared several days ago, after the SEC accused him of around $8 billion worth of rip-offs. Among his clients were a small handful of venture capital and buyout shops. Today, however, the FBI says that its Richmond, Va. office served Stanford with civil papers. No arrests were made, as the FBI was only carrying out an SEC request.

While we await more details, it seems the SEC has found an even minier Madoff. It’s only around $4 billion, but this one might be the scummiest yet. How come? Because he specifically recruited deaf clients. And the sad thing is that the worst is probably yet to come…

Reuters has much more on the day’s events.