What was it like to be a Stanford salesman?

I can’t resist.  Some things really are funny in their sad sort of way.

Justin Hare was a marketer who sold hedge funds for Onyx Capital.  Justin also worked for Stanford (the alleged ponzi).

Onyx (and its principal Jeff Schneider) at a minimum introduced Paradigm (a firm owned by the Vice President’s family) to two alleged frauds (Alan Stanford, Ponta Negra).  

Anyway Justin Hare (like several people involved in this) is not registered as a salesman for anything financial even though that is how he made a living.  (Justin – fix your registration.)

Justin did not hide it though.  He is a young good looking man, recently married to an equally young good looking wife.  He goes to church and at least on his myspace page he has enough attractive young women as friends to meet Nouriel Roubini’s preferred ratio.  

Being young and naïve he almost certainly thought that there was nothing wrong with his employer (the allegedly ponzi Stanford) and so he proudly put on his myspace page the photos of his business trip to Antigua.  

I have repeated them below.  People who lost money at Stanford probably will find this less grimly amusing than me.

First two photos - both posed - in the private jet

And here is Stanford's own private jet hangar in Antigua

With its own entrance to customs

Just to make sure you were in the lap of a really big-spending company the whole thing is labelled "Stanford Aviation".  

And whilst the road to Stanford Aviation was not paved with gold it was paved with something peculiar...

From here they were taken to the upmarket resort at Jumby Bay...

And I guess it surprised nobody that the Pavillion at Jumby Bay had its own dedicated Stanford wine cellar...

Or that Sir Allen's boat was parked in harbour.

What amazes me about this though is the lack of self reflection.  Justin Hare is young.  He is 25.  Nobody showers ordinary 25 year olds with this much lavish attention.  

But there is no evidence that the salesman in question thought this sort of excess unusual or indicative of something smelly.

We live in a society where the appearance of money - and the possibility of having some - gets people to leave either their conscience or their judgement at the door (or in this case the departing aircraft hanger).  

And that is why I found these photos grimly amusing.

John

PS.  The Myspace page has been set on private so you can now no longer see the photos without being one of Justin Hare's "friends".

Given that people who sell products like this tend to resurface I have decided to put a single identifying photo up.  This is Justin Hare on the plane.

Also - the (US) Stanford receiver is suing 66 Stanford salesmen for their sales commissions received.  Justin Hare is not on the list.  

I have not forwarded a copy of this post to the receiver - but if people feel strongly about it they are most welcome.

J  

PPS.  Here he is skiing at Whistler.  Stanford money hard at work!

Final postscript:  I tracked Justin Hare down again.  He appears to have taken an entirely honest sales job.  It probably pays less - and it certainly does not come with trips to Antigua.  I almost feel like taking this down now Justin is working an honest job for honest money.  But hey - lets keep it here as a reminder for Justin.