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I'm with Bill Clinton

Investors get taken for $5.2 million in "reverse life insurance" scam

San Diegan Daniel Christian Stanley Powell this week was convicted in Orange County federal court of fleecing investors of $5.2 million with his "reverse life insurance" scam. The federal judge who heard the case sent him right into custody to await sentencing March 13 of next year. The maximum sentence could be 260 years in federal prison.

Powell's company, Christian Stanley, told victims he would use their money to buy life-insurance policies from individuals; the company would pay premiums and be the beneficiaries of the policies. He told investors he had $1.9 billion in reverse life-insurance policies. But the government found he owned no such policies.

Powell made a $35,000 donation to a foundation and got a picture of himself with Bill Clinton; that became part of the sales pitch. Despite getting almost no revenue, he planned to take Christian Stanley public, and the Securities and Exchange Commission intervened. At his trial, it was shown he knowingly drafted false documents for the public offering.

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San Diegan Daniel Christian Stanley Powell this week was convicted in Orange County federal court of fleecing investors of $5.2 million with his "reverse life insurance" scam. The federal judge who heard the case sent him right into custody to await sentencing March 13 of next year. The maximum sentence could be 260 years in federal prison.

Powell's company, Christian Stanley, told victims he would use their money to buy life-insurance policies from individuals; the company would pay premiums and be the beneficiaries of the policies. He told investors he had $1.9 billion in reverse life-insurance policies. But the government found he owned no such policies.

Powell made a $35,000 donation to a foundation and got a picture of himself with Bill Clinton; that became part of the sales pitch. Despite getting almost no revenue, he planned to take Christian Stanley public, and the Securities and Exchange Commission intervened. At his trial, it was shown he knowingly drafted false documents for the public offering.

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Comments
55

Doesn't Bill offer anyone a photo with him for 100 bucks cash? Those Franklins add up!

Nov. 14, 2014

But they add up faster in bundles of 350 don't they? Influence peddling for a former President and husband to the current leading non-declared Democratic Presidential candidate don't come cheap.

Nov. 14, 2014

MichaelValentine: Is the cash conveyed in a black suitcase? Best, Don Bauder

Nov. 14, 2014

Naw to photogenic and old school.

Nov. 14, 2014

MichaelValentine: You mean they don't carry machine guns in violin cases anymore? Best, Don Bauder

Nov. 14, 2014

dwbat: I don't know if Bill Clinton has such an open-ended offer. Nor do I know if Hillary does. I do know they are both hungry for money, although they have lots of it. Best, Don Bauder

Nov. 14, 2014

My posting about photos with Bill was obviously satire.

Nov. 15, 2014

dwbat: It was satire but also verisimilitude. Best, Don Bauder

Nov. 15, 2014

Verismititude had to looked it up. Fitting.

Nov. 18, 2014

MichaelValentine: You looked it up but still got the spelling wrong. Typo, I'm sure. Best, Don Bauder

Nov. 19, 2014

Maybe President Clinton should hold a sign stating that a photograph taken with him isn't an endorsement of any kind. Then he could charge more to put the sign down.

But that's beside the point isn't it? Glad to see a white collar criminal get his. Now if they would only get the pin striped bankers and Wall Street con men too. Still any start is a start.

Maybe the new Attorney General will go after them. snark.

Nov. 14, 2014

MichaelValentine: The pinstriped thieves in banks get off easy. An agency fines the bank, say, $5 billion. The press eats it up, reporting justice has been done. But the press doesn't mention that the bank can write it all off on taxes. Thus, we pay for it.

Many top executives should have gone to prison over the 2008 collapse. None has. Best, Don Bauder

Nov. 14, 2014

Jeez how un-American. So when we recite the Pledge of Allegiance do we still have to say "with liberty and justice for all" along with the "So help me God."? Or do we go with the more accurate "with liberty and justice for some."?

I mean how can we be expected to "swear to God" when the Pledge is a lie? Should we examine this whole Pledge of Allegiance thing? Is it an empty recital or meaningful oath?

Nov. 14, 2014

MichaelValentine: "Liberty and justice for a few" is more like it. Best, Don Bauder

Nov. 14, 2014

It occurs to me that the Congress could close that deduction. It rewards bad behavior doesn't it? It states that lawlessness is just another cost of doing business.

I'm sure the new Republican Congress will see to it. They are highly moral men and women who will do justice for the American People.

Sometimes I get a little sarcastic.

Nov. 14, 2014

MichaelValentine: Do you think Congress would stop the tricks of the bankers/Wallstreeters who pay for protection? Best, Don Bauder

Nov. 14, 2014

What's Hilary going to do with all their old pictures when she runs? He's a liability to her believability. Yet she can't divorce him because the legal war between those two would be off the richter scale. Who wins the War of the Clintons may be who bought life insurance on the other one.

Nov. 14, 2014

shirleyberan: Actually, I have read, polls show that Bill Clinton remains popular. He is not a liability for Hillary. They may not speak to each other, but he will help her, because he hopes to get back in the White House and run things. Best, Don Bauder

Nov. 14, 2014

People still recall Bill with warm regard despite the impeachment. He presided over good economic times for lots of us. He was liked by a wide cross section, except, of course, by Republicans.

NAFTA, welfare reform and his finger wagging, "I did not have sex with that woman." (Loyal Democrat that I was I believed. What an horse's backside I am at times.) thing are what I remember.

Still Bill would be a plus for Hillary. Even if I don't like her for President or Bill for being a neoliberal, he's a great campaigner.

Nov. 14, 2014

MichaelValeentine: He has warmth that appeals to people. Ask Monica Lewinsky. Best, Don Bauder

Nov. 14, 2014

I don't respect a woman who lets her husband run things, especially at work. It says she doesn't really know how. Seems like Bill thinks himself entitled to the White House Throne and she's a supporting character for him, If she behaves and does what he dictates.

Nov. 14, 2014

Oh I don't think Hillary will be letting Bill run anything. I think she's her own woman and more calculating and cynical then she lets on.

She could have left Bill over the blue dress mess but she stood by her man. Now she has one of the best political campaigners of the 20th century by and on her side with his roller deck of contacts.

I don't like them. They are corporate and neoliberal. But facts is facts.

Nov. 14, 2014

MichaelValentine: Hillary would never leave Bill. He is her ticket to the fame and wealth she has always coveted. Best, Don Bauder

Nov. 15, 2014

The deserve each other. Now the question is what did we do to deserve them both?

Nov. 18, 2014

MichaelValentine: Don't despair. We don't have them yet. Best, Don Bauder

Nov. 20, 2014

shirleyberan: I don't think two people who probably hate each other should be running the country. Best, Don Bauder

Nov. 14, 2014

don bauder, You make a fair point, but let me add this. While you may think they probably hate each other, I think they both would have the countries best interests in common. And consider the alternative. Would you want any of the current alternatives in power, those who clearly do NOT have the best interests of the country and the vast majority of it's citizens anywhere on their list?

Nov. 15, 2014

danfogel: Put it this way. I doubt if anybody in the running for 2016 would have the country's interest first, and self last. Given who might run for the Republicans, I fear I will vote for Hillary -- there may be no choice. Best, Don Bauder

Nov. 15, 2014

Don - Never-mind. She probably hates him.

Nov. 14, 2014

shirleyberan: It think it is mutual disregard. Best, Don Bauder

Nov. 14, 2014

shirleyberan: It think it is mutual enmity. Best, Don Bauder

Nov. 14, 2014

MichaelValentine - I remember I was literally dancing in the street when we got Clinton/Gore. New high hopes for this country. Later a story of one of the weirdest attempts at impeachment, something about a cigar too. Poor humiliated Hillary came through OK.

Nov. 14, 2014

Oh I voted for them and was happy for the election results, it had been a long 12 year Republican run. Bill was the first Democratic President who disappointed me but not the last.

Nov. 14, 2014

MichaelValentine: Bill Clinton did some good things and bad things: his relationship with Monica, and lying publicly about it, were among the minor bad things. Best, Don Bauder

Nov. 15, 2014

Then there was NAFTA and welfare reform. Gotta love the center right of it all.

Nov. 18, 2014

MichaelValentine: NAFTA and welfare reform were bad deals. I am sure you noted at the time that there was no CORPORATE welfare reform. Corporate welfare is much larger in dollars than social welfare.

Social welfare goes to those who need it. Corporate welfare goes to those who already are rich -- say, like billionaire owners of pro sports teams. Best, Don Bauder

Nov. 19, 2014

shirleyberan: Was she humiliated? Think about it. Best, Don Bauder

Nov. 14, 2014

But it was the lying not the act. Wish I didn't hear about any of it.

Nov. 14, 2014

Like I said above, I believed him too.

Nov. 14, 2014

MichaelValentine: Don't you realize you should never believe a political candidate? Best, Don Bauder

Nov. 14, 2014

MichaelValentine: When I was a freshman in high school, I ran for treasurer of my home room. I voted for myself. It was the only vote I got. The victor got 35 votes. But there were only 25 kids in the home room. I quizzed the winner about it at the 50th reunion and she is still clamming up. She shows no remorse. We were in a suburb of Chicago, so we knew how that game was played, but that was no excuse. It was before hanging chads. Best, Don Bauder

Nov. 15, 2014

shirleyberan: How could you miss it? Best, Don Bauder

Nov. 14, 2014

That's What She Said.

Nov. 14, 2014

shirleyberan: She said she believed him and was betrayed, but don't believe a word of it. By the time all of that happened, she knew his predilections very, very well. Read about Arkansas. Best, Don Bauder

Nov. 14, 2014

Yes I know Don, there were many. She must have hoped he would grow up sooner rather than later and stop giving it away. I wondered if the correct word was humiliated. Some shame in being married to a philanderer. I remember her headband hairstyle in a stand by her man interview where she tried looking like a housewife. Another when she took heat for saying she wasn't staying home baking cookies. Must have seen herself on TV. Who would be her running mate, will Biden run? If the Republican Party can't find a viable candidate again, so much the better.

Nov. 14, 2014

shirleyberan: I fear the Republicans will nominate Jeb Bush. Isn't three enough? One and two were enough. Best, Don Bauder

Nov. 15, 2014

The third Bush is a charm? It will be a tough sell.

Nov. 18, 2014

MichaelValentine: I certainly hope it will be an impossible sell. Best, Don Bauder

Nov. 19, 2014

More than enough, too much bad news.

Nov. 15, 2014

shirleyberan: The George W./Cheney Iraq war was one of the great disgraces of American history. Best, Don Bauder

Nov. 15, 2014

Although hardly ever heard elevated to negligent. How will that shit be written in public school history books? Same way American atrocities are traditionally written: dehumanizing and absent of truth.

Nov. 15, 2014

shirleyberan: Grade school and high school history books will probably whitewash the George W./Cheney Iraq war. But college texts may tell the truth. Best, Don Bauder

Nov. 16, 2014

Which came first, enmity or marriage?

Nov. 18, 2014

shirleyberan: Marriage, obviously, in the case of the Clintons. Best, Don Bauder

Nov. 19, 2014

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