Thursday, June 14, 2012

From helicopters and International Cricket matches to 100yrs in prison: Allen Stanford sentenced

The circle of life - I have written at length about people needing to stop taking other peoples money.  Allen Stanford was arrested in an $8B ponzi scheme in 2009 that has now completely unraveled.  (Sir) Allen Stanford was sentenced today to 110 yrs in prison.

Financial Times

Breaking News

Stanford sentenced to 110 years in prison
Texas banker Allen Stanford was sentenced to 110 years in prison for defrauding customers of $7bn to fund a lavish lifestyle including the purchase of Caribbean real estate, a fleet of airplanes and an international cricket tournament.
The 110-year sentence handed down by US Judge David Hittner is less than the Department of Justice's recommendation of a statutory maximum of 230 years.


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