Financier and cricket mogul Allen Stanford was sentenced to 110 years in jail for a $7 billion Ponzi scheme, closing the book on the flamboyant ex-tycoon’s stunning fall from grace.
“This is one of the most egregious frauds ever presented to a trial jury in federal court,” Judge David Hittner said in handing down the lengthy sentence in Houston, Texas. He was also ordered to forfeit $5.9 billion.
“From beginning to end, he’s treated his victims like road kill,” Assistant US Attorney William Stellmach told the judge today before a courtroom packed with Stanford’s victims. “Allen Stanford doesn’t deserve anyone’s sympathy and he doesn’t deserve your honor’s mercy.”
(via The Age [Australia])
Perhaps Judge Hittner was showing some mercy in sentencing Stanford to sit in prison the rest of his life. When the scandal first broke in early 2009, Stanford was also under investigation for money laundering and bribery here in Mexico.
Back then, there was mention of Stanford owned planes flying cash (and who knows what else) in and out of Mexico. and U.S. officials spoke of bribes to unnamed “foreign officials”. There were allegations that among the clients were the Gulf Cartel. They really, really hate it when people lose their money, and had the U.S. government not nabbed him, the now former SIR Allen would have been a knight to dismember.