Former Alabama Securities Commission Director, Joseph Borg, who served in that capacity for 28 years until his retirement in early May of 2023.
In today’s Sound Off Louisiana feature, founder Robert Burns provides an overview of August 8, 2024 proceedings of Lillie et. al. vs. Louisiana Office of Financial Insertions (OFI):
Highlights of August 8, 2024 proceedings of Lillie et. al. vs. OFI.
As promised in the video, here is the news page announcing Borg’s retirement from the Alabama Securities Commission after 28 years as Director. Seeing all of his accomplishments throughout his career is why Burns simply referred to him as “the real deal” in the above video!
Links for attorneys arguing their clients case:
Plaintiffs: Phil Preis and his daughter, Caroline Graham.
Defendant: Dennis Blunt, Nena Eddy, and Michael Victorian.
Very Much enjoying the daily updates from Mr. Burns. He keeps it real and impartial – in my opinion. Truth is (as a Stanford victim) I am very grateful to see this epic failure by all financial institutions – local, state, and federal, to have its day in court 15 years later. The facts are very disturbing knowing financial institutions one after another turned a blind eye to yet another Ponzi scheme. It is truly amazing to me how people can get away with this unethical a d criminal behavior day after day and year after year simply by giving others a “piece of the pie.” Meanwhile hard-working and honest people suffer the ultimate betrayal. I know a verdict has already been rendered or will be later this afternoon. It’s Friday and the jurors just want to go home. Wouldn’t surprise me if they sided w rhe plaintiffs. Like Mr. Burns stated earlier even w a guilty verdict plaintiffs won’t see any monies in their remaining lifetime. There should be a death penalty for this type of crime.
Good job Mr Burns. My hat is off to you sir for excellent coverage. Well done!
Thank you so much, Mr. Shaffer, for your kind words. I am outside the courtroom now. The jury began deliberations about 25 minutes ago. It’s all in their hands now (time is 4:48 p.m. as I type this comment).
Seems to me that any government agency—state or federal—should stop at nothing when seniors are being preyed upon. There is a reason Allen Stanford chose Louisiana to run Stanford Trust Company and not Texas or another state—because Louisiana’s OFI offered a lax regulatory environment where Stanford could buy people off. Apparently it worked.