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Billionaire Ponzi schemer gets 110-year sentence
Former billionaire tycoon R. Allen Stanford was sentenced to 110 years in prison on Thursday for bilking clients out of $7 billion in a massive Ponzi scheme. Stanford used his network of banks to cheat some 30,000 investors from 113 countries over the course of 20 years, making his Ponzi scheme one of the largest in history.
Financier R. Allen Stanford is escorted to a federal courthouse in 2009: The Ponzi schemer and Antiguan knight was convicted of fraud Tuesday, and faces life in prison.
Financier R. Allen Stanford is escorted to a federal courthouse in 2009: The Ponzi schemer and Antiguan knight was convicted of fraud Tuesday, and faces life in prison.
Aaron M. Sprecher/Corbis
F
ormer billionaire tycoon R. Allen Stanford was sentenced to 110 years in prison on Thursday for bilking clients out of $7 billion in a massive Ponzi scheme. Stanford used his network of banks to cheat some 30,000 investors from 113 countries over the course of 20 years, making his Ponzi scheme one of the largest in history.

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