"Stanford Financial was almost like a phantom company," says John Olson, a prominent Houston businessman who is managing partner of Houston Energy Partners, a hedge fund. "You never saw anyone from Stanford at any of the meetings or conferences. It was like they weren’t even there."Indeed. Just like your money.
Bonus hilarity: Investigators have yet find a single instance of superfraud Bernard Madoff actually purchasing a security on behalf of an investor in the last 13 years. By contrast, it would take several hours to detect similar behavior from, oh, I don't know, the Domino's delivery guy.