Stanford Financial Group
Encyclopedia
The Stanford Financial Group was a privately held international group of financial services
companies controlled by Allen Stanford
, until it was seized by United States
(U.S.) authorities in early 2009.
Headquartered in the Galleria Tower II
in Uptown Houston
, Texas
, it had 50 offices in several countries, mainly in the Americas, included the Stanford International Bank
, and said it managed US$8.5 billion of assets for more than 30,000 clients in 136 countries on six continents. On February 17, 2009, U.S. Federal agents put the company under management of a receiver
, because of charges of fraud. On February 27, 2009, the U.S. Securities and Exchange Commission amended its complaint to describe the alleged fraud as a "massive Ponzi scheme
".
, by his grandfather, Lodis B. Stanford. However there was no direct connection between the insurance company and Allen Stanford's banking business, which he started on the British Overseas Territory of Montserrat
in the West Indies in the 1980s. Allen Stanford's move into banking utilised funds he had made in real estate in Houston in the early 1980s.
In 2008, Stanford Financial Group announced it would open a new global management complex in St. Croix, U.S. Virgin Islands, to include the base for the corporate support functions such as business technology, compliance, finance, human resources, investment strategy and legal, as well as the chairman's office. Completion was planned for July 2009, but this will not now occur.
event to benefit St. Jude Children's Research Hospital of Memphis, Tennessee
. On March 20, 2009, after the Group's fraud was revealed, the PGA announced that they would be dropping their affiliation with the company and that for 2009 the event would be called the St. Jude's Classic.
Stanford Financial Group was the lead financier for the 2007 film The Ultimate Gift
,. According to the Association for Healthcare Philanthropy, the story of The Ultimate Gift promoted philanthropy
in not-for-profit health care
institutions.
The group established a significant presence in golf
, polo
, tennis
, cricket
and sailing
, sports which were popular among Stanford’s wealthy clients. Stanford Financial Group was the title sponsor for such sporting events as the Stanford U.S. Open Polo Championship, the Stanford USPA Silver Cup, the Stanford Antigua Sailing Week, the PGA Tour Stanford St. Jude Championship, and the Stanford International Pro-Am. Stanford also sponsored professional golfers Vijay Singh
, Camilo Villegas
and David Toms
as well as Morgan Pressel
on the LPGA Tour. In tennis, the company was a sponsor of the Sony Ericsson Open. Stanford also sponsored the Champions Series
Tennis Tournaments featuring Jim Courier
, John McEnroe
and Pete Sampras
.
The Stanford Financial Tour Championship, previously known as the LPGA
Playoffs at The ADT and the ADT
Championship, was the season-ending golf
tournament on the US-based LPGA Tour. Beginning with the 2009 event, it was to be sponsored by Stanford Financial Group.
As one of the founding partners, Stanford Financial Group was also involved in Tiger Woods
's annual golf tournament, the AT&T National
.
The Securities Exchange Commission's (SEC) charged Allen Stanford, Pendergest-Holt and Davis of fraud in connection with Stanford Financial Group's US$8 billion certificate of deposit
(CD) investment scheme that offered "improbable and unsubstantiated high interest rates". This led the Federal government to freeze the assets of Allen Stanford, Stanford International Bank, Stanford Group Co., and Stanford Capital Management. In addition, Stanford International Bank placed a 60-day moratorium on early redemptions of its CDs.
On February 18 and 19, 2009, Ecuador
and Peru
suspended the operations of local Stanford units, and, in Venezuela
and Panama
, the governments seized local units of Stanford Bank. Mexico
's financial regulator announced on February 19 that it was investigating the local affiliate of Stanford bank for possible violation of banking laws.
On February 27, 2009, Stanford official Laura Pendergest-Holt was arrested by Federal agents in connection with the alleged fraud. On that day the SEC said that Stanford and his accomplices operated a "massive Ponzi scheme", misappropriated billions of investors' money and falsified the Stanford International Bank's records to hide their fraud. "Stanford International Bank's financial statements, including its investment income, are fictional," the SEC said.
United States District Judge David Godbey froze all of the Stanford personal and corporate assets. Godbey gave them to Ralph Janvey, a Dallas receiver; Janvey will retain control until the SEC suit is resolved. A British receiver took the Antigua-based Stanford International Bank.
On July 1, 2009, James M. Davis
, the CFO of the company, agreed to change course from his not guilty plea and plead guilty to three charges related to the Ponzi fraud scheme, once details can be worked out.
On November 13, 2009 The US District Court Ordered Brokerage Accounts to be transferred to Dominick & Dominick LLC
. The transfer became effective on January 20, 2010.
In 2011 an auction of Stanford's goods was held in Houston.
in Uptown Houston
, Texas
, U.S. Previously the company was headquartered in 5050 Westheimer Road
, a three story, 71000 square foot building across from The Galleria. Jennifer Dawson of the Houston Business Journal described the facility as "high-end office digs." By 2007 Stanford's headquarters moved to Galleria Tower II.
On May 18, 2010 the receiver entered into a stalking horse contract for the sale of 5050 Westheimer Road. During that month Black Forest Ventures LLC was the designated bidder to defeat at the auction, with a minimum bid being $12.5 million. The auction was scheduled to be held on Thursday June 24, 2010 at the offices of Baker Botts, L.L.P. in One Shell Plaza
in Downtown Houston
. The auction was canceled due to a lack of bids, and Black Forest's stipulated that it would acquire the building for $12.2 million. Black Forest bought the 5050 Westheimer building in July 2010.
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
companies controlled by Allen Stanford
Allen Stanford
Robert Allen Stanford is a former prominent financier and sponsor of professional sports who is in prison awaiting trial on charges his investment company was a massive Ponzi scheme and fraud. Stanford was the chairman of the now defunct Stanford Financial Group of Companies. A fifth-generation...
, until it was seized by United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
(U.S.) authorities in early 2009.
Headquartered in the Galleria Tower II
Galleria Office Towers
Galleria Office Towers is an office complex located on the site of The Galleria in the Uptown district of Houston, Texas, United States. The buildings, consisting of the Galleria Tower I, Galleria Tower II, and the Galleria Financial Center, are managed by Colville Office Properties.The 25 floor...
in Uptown Houston
Uptown Houston
The Uptown District of Houston is located 6.2 miles west of downtown and is centered along Post Oak Boulevard, Westheimer Road , and the Galleria...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, it had 50 offices in several countries, mainly in the Americas, included the Stanford International Bank
Stanford International Bank
Stanford International Bank was a bank based in the Caribbean, which operated from 1986 to 2009. It was an affiliate of the Stanford Financial Group.- Operations :...
, and said it managed US$8.5 billion of assets for more than 30,000 clients in 136 countries on six continents. On February 17, 2009, U.S. Federal agents put the company under management of a receiver
Receivership
In law, receivership is the situation in which an institution or enterprise is being held by a receiver, a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights." The receivership remedy is an equitable remedy that emerged in...
, because of charges of fraud. On February 27, 2009, the U.S. Securities and Exchange Commission amended its complaint to describe the alleged fraud as a "massive Ponzi scheme
Ponzi scheme
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation...
".
History
Allen Stanford traced his company to the insurance company founded in 1932 in Mexia, TexasMexia, Texas
Mexia is a city in Limestone County, Texas, United States. The population was 6,552 at the 2008 census.The city's motto, based on the fact that outsiders tend to mispronounce the name , is "A great place, no matter how you pronounce it."...
, by his grandfather, Lodis B. Stanford. However there was no direct connection between the insurance company and Allen Stanford's banking business, which he started on the British Overseas Territory of Montserrat
Montserrat
Montserrat is a British overseas territory located in the Leeward Islands, part of the chain of islands called the Lesser Antilles in the West Indies. This island measures approximately long and wide, giving of coastline...
in the West Indies in the 1980s. Allen Stanford's move into banking utilised funds he had made in real estate in Houston in the early 1980s.
In 2008, Stanford Financial Group announced it would open a new global management complex in St. Croix, U.S. Virgin Islands, to include the base for the corporate support functions such as business technology, compliance, finance, human resources, investment strategy and legal, as well as the chairman's office. Completion was planned for July 2009, but this will not now occur.
Affiliated companies
Stanford Financial Group comprises several affiliated companies:- Stanford Capital Management, investment adviser, based on Houston
- Stanford Group Company, broker-dealer, based in Houston
- Stanford International BankStanford International BankStanford International Bank was a bank based in the Caribbean, which operated from 1986 to 2009. It was an affiliate of the Stanford Financial Group.- Operations :...
, was started in 1986 in MontserratMontserratMontserrat is a British overseas territory located in the Leeward Islands, part of the chain of islands called the Lesser Antilles in the West Indies. This island measures approximately long and wide, giving of coastline...
where it was called Guardian International Bank. Allen Stanford relocated its operations to Antigua. On 19 February 2009 Nigel Hamilton-Smith and Peter Wastell of the British accounting firm VantisVantisVantis plc was an accountancy firm based in London, England, providing accounting, tax and business advice to owner-managed businesses, listed companies, not for profit organisations, high net worth individuals and other professionals...
were appointed joint receiversReceivershipIn law, receivership is the situation in which an institution or enterprise is being held by a receiver, a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights." The receivership remedy is an equitable remedy that emerged in...
of the bank, and were made liquidatorsLiquidator (law)In law, a liquidator is the officer appointed when a company goes into winding-up or liquidation who has responsibility for collecting in all of the assets of the company and settling all claims against the company before putting the company into dissolution....
on 15 April 2009. In June 2010, the High Court of Antigua resolved that Vantis should be removed from its responsibilities. The firm, which had recently received government approval to sell the property assets, appealed the decision. - Stanford Trust Company, helped manage and protect wealth. Vantis was also appointed receivers of Stanford Trust Company.
- Bank of AntiguaBank of AntiguaBank of Antigua was formed on the 10 February 1981 in St. John's, Antigua. It was owned by the Stanford Financial Group which has been sued by the U.S. Securities and Exchange Commission, along with Robert Allen Stanford, the Stanford Financial Group's owner, for allegedly running a Ponzi scheme...
- Stanford Coins and Bullion
Sponsorships and charity
In 2007, Stanford Financial Group assumed title sponsorship of the Stanford St. Jude Championship, a top PGA TourPGA Tour
The PGA Tour is the organizer of the main men's professional golf tours in the United States and North America...
event to benefit St. Jude Children's Research Hospital of Memphis, Tennessee
Memphis, Tennessee
Memphis is a city in the southwestern corner of the U.S. state of Tennessee, and the county seat of Shelby County. The city is located on the 4th Chickasaw Bluff, south of the confluence of the Wolf and Mississippi rivers....
. On March 20, 2009, after the Group's fraud was revealed, the PGA announced that they would be dropping their affiliation with the company and that for 2009 the event would be called the St. Jude's Classic.
Stanford Financial Group was the lead financier for the 2007 film The Ultimate Gift
The Ultimate Gift
The Ultimate Gift is a film based on author Jim Stovall's bestselling novel released on March 9, 2007 in 816 theaters in the USA. The film was not well attended in the USA and produced low box office receipts, though DVD sales were quite high in relation to its theatrical receipts.-Plot:When his...
,. According to the Association for Healthcare Philanthropy, the story of The Ultimate Gift promoted philanthropy
Philanthropy
Philanthropy etymologically means "the love of humanity"—love in the sense of caring for, nourishing, developing, or enhancing; humanity in the sense of "what it is to be human," or "human potential." In modern practical terms, it is "private initiatives for public good, focusing on quality of...
in not-for-profit health care
Health care
Health care is the diagnosis, treatment, and prevention of disease, illness, injury, and other physical and mental impairments in humans. Health care is delivered by practitioners in medicine, chiropractic, dentistry, nursing, pharmacy, allied health, and other care providers...
institutions.
The group established a significant presence in golf
Golf
Golf is a precision club and ball sport, in which competing players use many types of clubs to hit balls into a series of holes on a golf course using the fewest number of strokes....
, polo
Polo
Polo is a team sport played on horseback in which the objective is to score goals against an opposing team. Sometimes called, "The Sport of Kings", it was highly popularized by the British. Players score by driving a small white plastic or wooden ball into the opposing team's goal using a...
, tennis
Tennis
Tennis is a sport usually played between two players or between two teams of two players each . Each player uses a racket that is strung to strike a hollow rubber ball covered with felt over a net into the opponent's court. Tennis is an Olympic sport and is played at all levels of society at all...
, cricket
Cricket
Cricket is a bat-and-ball game played between two teams of 11 players on an oval-shaped field, at the centre of which is a rectangular 22-yard long pitch. One team bats, trying to score as many runs as possible while the other team bowls and fields, trying to dismiss the batsmen and thus limit the...
and sailing
Sailing
Sailing is the propulsion of a vehicle and the control of its movement with large foils called sails. By changing the rigging, rudder, and sometimes the keel or centre board, a sailor manages the force of the wind on the sails in order to move the boat relative to its surrounding medium and...
, sports which were popular among Stanford’s wealthy clients. Stanford Financial Group was the title sponsor for such sporting events as the Stanford U.S. Open Polo Championship, the Stanford USPA Silver Cup, the Stanford Antigua Sailing Week, the PGA Tour Stanford St. Jude Championship, and the Stanford International Pro-Am. Stanford also sponsored professional golfers Vijay Singh
Vijay Singh
Vijay Singh, CF , nicknamed "The Big Fijian", is a Fijian professional golfer who was Number 1 in the Official World Golf Rankings for 32 weeks in 2004 and 2005. He has won three major championships and was the leading PGA Tour money winner in 2003, 2004 and 2008...
, Camilo Villegas
Camilo Villegas
Camilo Villegas is a Colombian professional golfer who plays on the PGA Tour and the European Tour.-Early years:Villegas was born in Medellín, Colombia, and took up golf as a child...
and David Toms
David Toms
David Wayne Toms is an American professional golfer who plays on the PGA Tour. He has won a total of thirteen events on the PGA Tour including the 2001 PGA Championship...
as well as Morgan Pressel
Morgan Pressel
Morgan Pressel is an American professional golfer, currently playing on the LPGA Tour. She turned pro at age 17 and is the youngest-ever winner of a modern LPGA major championship. Pressel has reached as high as fourth in the world rankings....
on the LPGA Tour. In tennis, the company was a sponsor of the Sony Ericsson Open. Stanford also sponsored the Champions Series
Outback Champions Series
The Outback Champions Series is a series of tennis tournaments designed for former members of the ATP tour. The Outback Champions Series consists of tournaments played in select markets where legends of the sport compete in a highly competitive, fan friendly, round robin format with a champion...
Tennis Tournaments featuring Jim Courier
Jim Courier
James Spencer "Jim" Courier, Jr. is a former world no. 1 professional tennis player from the United States. During his career, he won four Grand Slam singles titles, two at the French Open and two at the Australian Open...
, John McEnroe
John McEnroe
John Patrick McEnroe, Jr. is a former world no. 1 professional tennis player from the United States. During his career, he won seven Grand Slam singles titles , nine Grand Slam men's doubles titles, and one Grand Slam mixed doubles title...
and Pete Sampras
Pete Sampras
Pete Sampras is a retired American tennis player and former world no. 1. During his 15-year tour career, he won 14 Grand Slam singles titles and became recognized as one of the greatest tennis players of all time....
.
The Stanford Financial Tour Championship, previously known as the LPGA
LPGA
The LPGA, in full the Ladies Professional Golf Association, is an American organization for female professional golfers. The organization, whose headquarters is in Daytona Beach, Florida, is best known for running the LPGA Tour, a series of weekly golf tournaments for elite female golfers from...
Playoffs at The ADT and the ADT
ADT Security Services
ADT Security Services, originally American District Telegraph, now also known as simply ADT, is a division of Tyco International and a worldwide supplier of electronic security systems, fire alarm systems, communication systems, and integrated building management systems.-History:There were many...
Championship, was the season-ending golf
Golf
Golf is a precision club and ball sport, in which competing players use many types of clubs to hit balls into a series of holes on a golf course using the fewest number of strokes....
tournament on the US-based LPGA Tour. Beginning with the 2009 event, it was to be sponsored by Stanford Financial Group.
As one of the founding partners, Stanford Financial Group was also involved in Tiger Woods
Tiger Woods
Eldrick Tont "Tiger" Woods is an American professional golfer whose achievements to date rank him among the most successful golfers of all time. Formerly the World No...
's annual golf tournament, the AT&T National
AT&T National
The AT&T National is a professional golf tournament held in the Washington D.C. area during the Fourth of July weekend. The PGA Tour event is hosted by Tiger Woods and benefits the Tiger Woods Foundation. The first AT&T National was held July 5–8, 2007, at the Blue Course of the Congressional...
.
Regulatory investigation
During the week of February 13, 2009, Stanford issued a letter to clients saying: "Regulatory officers have visited our offices and have stated that these are routine examinations". On February 17, 2009, U.S. Federal agents entered the company's Houston and Memphis offices. Law enforcement officials placed signs on the office doors stating that the company was temporarily closed: "The company is still in operation but under the management of a receiver".The Securities Exchange Commission's (SEC) charged Allen Stanford, Pendergest-Holt and Davis of fraud in connection with Stanford Financial Group's US$8 billion certificate of deposit
Certificate of deposit
A certificate of Deposit is a time deposit, a financial product commonly offered to consumers in the United States by banks, thrift institutions, and credit unions....
(CD) investment scheme that offered "improbable and unsubstantiated high interest rates". This led the Federal government to freeze the assets of Allen Stanford, Stanford International Bank, Stanford Group Co., and Stanford Capital Management. In addition, Stanford International Bank placed a 60-day moratorium on early redemptions of its CDs.
On February 18 and 19, 2009, Ecuador
Ecuador
Ecuador , officially the Republic of Ecuador is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. It is one of only two countries in South America, along with Chile, that do not have a border...
and Peru
Peru
Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....
suspended the operations of local Stanford units, and, in Venezuela
Venezuela
Venezuela , officially called the Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It borders Colombia to the west, Guyana to the east, and Brazil to the south...
and Panama
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
, the governments seized local units of Stanford Bank. Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
's financial regulator announced on February 19 that it was investigating the local affiliate of Stanford bank for possible violation of banking laws.
On February 27, 2009, Stanford official Laura Pendergest-Holt was arrested by Federal agents in connection with the alleged fraud. On that day the SEC said that Stanford and his accomplices operated a "massive Ponzi scheme", misappropriated billions of investors' money and falsified the Stanford International Bank's records to hide their fraud. "Stanford International Bank's financial statements, including its investment income, are fictional," the SEC said.
United States District Judge David Godbey froze all of the Stanford personal and corporate assets. Godbey gave them to Ralph Janvey, a Dallas receiver; Janvey will retain control until the SEC suit is resolved. A British receiver took the Antigua-based Stanford International Bank.
On July 1, 2009, James M. Davis
James M. Davis
James M. Davis is the former chief financial officer of Stanford Financial Group. On 27 August 2009 he pled guilty to charges of fraud and obstruction of Justice in relation to a $7 billion investment fraud Ponzi scheme allegedly run by the company....
, the CFO of the company, agreed to change course from his not guilty plea and plead guilty to three charges related to the Ponzi fraud scheme, once details can be worked out.
On November 13, 2009 The US District Court Ordered Brokerage Accounts to be transferred to Dominick & Dominick LLC
Dominick & Dominick LLC
Dominick & Dominick LLC , formerly Dominick & Dominick Inc., is one of the oldest, privately held investment firms in the United States. It was one of the original members of the New York Stock Exchange, with an original founder serving as a president. The firm was the syndicate head for General...
. The transfer became effective on January 20, 2010.
In 2011 an auction of Stanford's goods was held in Houston.
Headquarters
Stanford was headquartered in the Galleria Tower IIGalleria Office Towers
Galleria Office Towers is an office complex located on the site of The Galleria in the Uptown district of Houston, Texas, United States. The buildings, consisting of the Galleria Tower I, Galleria Tower II, and the Galleria Financial Center, are managed by Colville Office Properties.The 25 floor...
in Uptown Houston
Uptown Houston
The Uptown District of Houston is located 6.2 miles west of downtown and is centered along Post Oak Boulevard, Westheimer Road , and the Galleria...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, U.S. Previously the company was headquartered in 5050 Westheimer Road
Westheimer Road
Westheimer Road is an arterial road in the western half of Houston, Texas, United States. It runs from Bagby Street west to the Westpark Tollway. Westheimer Road runs roughly parallel to and south of Buffalo Bayou throughout its course. The street was named after Michael Louis Westheimer, a...
, a three story, 71000 square foot building across from The Galleria. Jennifer Dawson of the Houston Business Journal described the facility as "high-end office digs." By 2007 Stanford's headquarters moved to Galleria Tower II.
On May 18, 2010 the receiver entered into a stalking horse contract for the sale of 5050 Westheimer Road. During that month Black Forest Ventures LLC was the designated bidder to defeat at the auction, with a minimum bid being $12.5 million. The auction was scheduled to be held on Thursday June 24, 2010 at the offices of Baker Botts, L.L.P. in One Shell Plaza
One Shell Plaza
One Shell Plaza is a 50 floor skyscraper at 910 Louisiana Street in Downtown Houston, Texas, United States. At its completion in 1971, One Shell Plaza was the tallest building in Houston, Texas, standing 715 feet tall. Including the antenna tower on its top, the height is 1,000 feet .One Shell...
in Downtown Houston
Downtown Houston
Downtown Houston is the largest business district of Houston, Texas, United States. Downtown Houston, the city's central business district, contains the headquarters of many prominent companies. There is an extensive network of pedestrian tunnels and skywalks connecting the buildings of the district...
. The auction was canceled due to a lack of bids, and Black Forest's stipulated that it would acquire the building for $12.2 million. Black Forest bought the 5050 Westheimer building in July 2010.
See also
- Bernie Madoff
- FBI
- Financial crisis of 2007–2010
- Laura Pendergest-HoltLaura Pendergest-HoltLaura Pendergest-Holt is an alleged Ponzi scheme artist financier and former Chief Investment Officer of Stanford Financial Group, who was charged with a civil charge of fraud on February 17, 2009...
- Ponzi schemePonzi schemeA Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation...
- Pyramid schemePyramid schemeA pyramid scheme is a non-sustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public...
- Stanford Bank VenezuelaStanford Bank VenezuelaStanford Bank Venezuela was Stanford International Bank's subsidiary in Venezuela. It was headquartered in Caracas and had many branches throughout Venezuela. The Venezuelan banking regulator estimated that Venezuelans had placed around $2.5bn in deposits with Stanford International...
- White Collar Crime
External links
- Stanford Financial Group Receivership
- Stanford Financial Group (Archive)
- Stanford International Bank Ltd. (Archive)
- Stanford Watch at Houston ChronicleHouston ChronicleThe Houston Chronicle is the largest daily newspaper in Texas, USA, headquartered in the Houston Chronicle Building in Downtown Houston. , it is the ninth-largest newspaper by circulation in the United States...