09:31 PM CDT on Thursday, June 15, 2006

By Doug Miller / 11 News

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Law officers swooped in on a Fort Bend County home Thursday and confiscated expensive property, including a stretch limo.

They seized the loot because they believe it was purchased fraudulently through an illegal business.

The raid at the home in the 8900 block of Lady Laura Lane was the result of a securities fraud investigation.

Even by the standards of a very nice Richmond subdivision, the man who lived there lived very well, drove very big cars and threw very big parties.

"Well, I wasn't invited, myself. But a lotta music. They have a pool and you could hear them using the pool. A lotta loud music," said one neighbor.

Now it sure looks like the party's over.

Law enforcement officials spent the day hauling away Stanley James Junior's property -- including the stretch limo that a deputy joked was longer than his driveway.

They also found a framed Magic Johnson basketball jersey.

FBI agents first raided the house on Monday

"They pull in and everybody's wearing an FBI jacket. They all come out with their guns," said a neighbor. "They all grab their guns. They had them out. They ran around the back, someone to the door."

On Thursday, investigators came back to seize property and shoot video.

The guy who lived here promised people the opportunity of a lifetime. His Web site told investors he could pay them 45 percent returns in a month.

But the state securities board has issued a cease and desist order, saying no permit has been granted for James to deal securities and that his company has been engaging in fraud.

One aspect of this case has really riled up law enforcement officials here in Fort Bend County. They say when they showed up with FBI agents on Monday, the man living in this house presented them with an official identification card from a Fort Bend County constable's office.

"And it just simply doesn't pass the smell test."

The card identifies James as an adviser to Contable Ruben Davis.

The constable tells us he gives cards like this to volunteers who sometimes buy their own wallets, bearing what looks like a badge.

"I've been in law enforcement a little over 30 years, right at 30 years. And to me, what this stuff does is a discredit to law enforcement as a whole."

Authorities say James was out of town when they seized his property if he throws another party here, it looks like he'll have to do without his stretch limo.