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Allen Stanford affair hits UK sport

The ongoing fallout from the Allen Stanford investigation in the US has reached the UK with the ECB announcing a total withdrawal of sponsorship by the Stanford Group. This could not have come at a worse time for the ECB as English cricket struggles to compete with the array of overseas competitions and leagues coming into play. There is some suggestion that the ECB took a large risk by accepting assistance from Allen Stanford and his Stanford Group as a number of other cricketing associations around the world appear to have refused his previous invitations.

Very often when we mention potential frauds and potential criminal activity (remembering that nothing has been proven against Allen Stanford or the Stanford Group) it is centred upon the individual. However, it is worthwhile remembering that many businesses are actually the potential victims of unlawful activity. Scams and frauds have increased dramatically over the last few months as both individuals and businesses around the world strive to maintain their income levels and future investment.

While the ECB has been called into question regarding the decision to get involved with the Stanford Group, far more serious questions are now being asked of the various regulators around the world who appear to have been "on the case" of Allen Stanford some time ago.

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