Avarice Funds' Professional Advisory Board is composed of seasoned financial professionals. These veterans of wealth creation and management have over twenty decades of combined service time with well over twenty decades of time yet to serve. Their understanding of economics and their clientele has been proven to be "beyond a reasonable doubt."
James W. Bailey, Jr.
Senior Vice President, Client services (On leave)
Prior to joining the board of Avarice Funds, Mr. Bailey operated Southern Financial Services in Asheville, North Carolina, where he offered self-directed IRA accounts and created limited liability companies for his clients to assist them in the purchase of real estate. Under Mr. Bailey's leadership, he was able to successfully lighten the wallets of his clients to the tune of $13 million before being charged with securities fraud, mail fraud and filing false tax returns. Mr. Bailey resides in Edgefield, South Carolina.
Bernard L. Madoff
Investor Emeritus (On sabbatical)
Beginning in 1960, Mr. Madoff was able to turn a $5,000 investment in his company into the largest market maker at the NASDAQ. Mr. Madoff served on the Board of Directors of the Securities Industry and Financial Markets Association, has been a member of the National Association of Securities Dealers, and has served on its Board of Governors as well as serving the Chairman of the Board of Directors. Mr. Madoff (Federal Bureau of Prisons #61727-054) currently resides in Butner, North Carolina.
Senior Vice President, Political Affairs (Deceased)
Operating from California, Mr. Hsu had been active in international politics, with special emphasis in the United States, where he alone was responsible for raising $60 million for the Democratic Party. Mr. Hsu was successful in delivering high returns on investors money by tapping the investments of later investors. Mr. Hsu later moved his operation from California to Hong Kong then to New York. Mr. Hsu (Federal Bureau of Prisons #660590-054) now resides in Milan, Michigan.
Chief Executive Officer and President (On leave)
Mr. Petters, a successful Minnesota businessman was the CEO and chairman of Petters Group Worldwide, a diversified company with assets such as Sun Country Airlines and Polaroid. Building on that success, Mr. Petters, with the assistance of Vice President of Operations, Deanna Coleman, enlisted clients to invest in electronics to be offered for sale through large retailers such as Costco and Sam's Club. Mr. Petters (Federal Bureau of Prisons #14170-041) lives in Leavenworth, Kansas.
Vice President, Information Technology (Foreign assignment)
Mr. Snowden is a computer specialist and former employee of the United States Central Intelligence Agency (CIA). Following his tenure at the CIA, he worked as a Booz Allen Hamilton contractor for the government's National Security Administration (NSA). Then, following his departure from the NSA, he became an influential figure in world affairs, particularly in the area of Internet surveillance programs such as PRISM, XKeyscore and Tempora. Mr. Snowden is currently overseeing Avarice Funds’ Moscow operation.
R. Allen Stanford
Executive Vice President, Offshore Investments (On leave)
Under his leadership and through his company, Stanford Financial Group, based in both Houston and Antigua, Mr. Stanford's nearly 30,000 clients saw a return of their investments of an extraordinary 2.7 percent, representing approximately $188 million in return for their cumulative investments of $7 billion. Mr. Stanford (Federal Bureau of Prisons #35017-183) currently resides in Coleman, Florida.
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