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Allen Stanford sentenced to 110 years in prison for $7bn Ponzi scheme - Telegraph
Allen Stanford, the Texan financier, has been sentenced to 110 years in prison for orchestrating a $7bn (£4.6bn) Ponzi scheme.
US authorities had sought a 230 year sentence for a man they described as "a ruthless predator responsible for one of the most egregious frauds in history." Stanford used the hearing to argue that "Stanford was a real brick-and-mortar global financial empire," that only crumbled after the government accused the company of being a Ponzi scheme in 2009.
Based on this Sir Merv should be facing 11,000 years in prison.
Allen Stanford, the Texan financier, has been sentenced to 110 years in prison for orchestrating a $7bn (£4.6bn) Ponzi scheme.
US authorities had sought a 230 year sentence for a man they described as "a ruthless predator responsible for one of the most egregious frauds in history." Stanford used the hearing to argue that "Stanford was a real brick-and-mortar global financial empire," that only crumbled after the government accused the company of being a Ponzi scheme in 2009.
Based on this Sir Merv should be facing 11,000 years in prison.
