The newest investment scam, the alleged $8 billion fraud perpetrated by a Texas billionaire named Allen Stanford who had himself knighted in Antigua, has ties to the Piedmont Triad.  In 2007 the operation opened a Greensboro office that was run by eight executives from US Trust Co. who were charged with targeting wealthy investors.

In July 2007, the company hired a team of eight executives from U.S. Trust Co. to work out of Greensboro, North Carolina, where the firm’s private-client group planned to target wealthy investors, according to statement at the time. The team was made up of John Rich, Glenda Burkett, M. Jo Brooks, Ken Dimock, Anthony Monforton, Virginia Saslow and William “Wes” Watson and Suzanne Wilcox.