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Robert Allen Stanford (born March 24, 1950) is a convicted financial fraudster, former financier, and sponsor of professional sports. He was convicted of fraud in 2012, having operated an eight billion dollar Ponzi scheme, [1] [2] [3] and is now serving a 110-year federal prison sentence. [4] [5]
Sep 20, 2021 · Sept 20 (Reuters) - A court-appointed receiver has recouped more than $1 billion for victims of Texas financier Allen Stanford's Ponzi scheme, the largest by dollar amount other than Bernard...
- Who Is Allen Stanford?
- Understanding Allen Stanford
- Financial Impact
- Allen Stanford's Rise to Riches
Robert Allen Stanford, who goes by Allen Stanford, is an American/Antiguan former banker that was convicted in 2012 of a Ponzi scheme following an investigation for securities fraud in excess of $7 billion. It was revealed that Allen Stanford had grossly misinformed his 50,000 investors about the level of professional management that they were re...
Allen Stanford was convicted of selling $7 billion in fraudulent certificates of deposit (CDs) from his offshore bank, Stanford International Bank, on the island of Antigua in an international Ponzi scheme, a case that drew comparisons to disgraced broker Bernie Madoff’smultibillion-dollar fraud. Stanford's fraudulent scheme is the second-largest i...
Stanford used the money that investors thought was going to CDs to finance his lavish lifestyle and make risky investments. Investors are claiming $24 billion in damages from the government of Antigua. However, not only were Stanford's investors severely impacted but so was Antigua. Stanford was a large influence in Antigua. He developed much of ...
Allen Stanford rose from humble beginnings in the town of Mexia, Texas. He was born in 1950 to a lower-middle-class family. Beginning as an insurance salesman and bookkeeper, Allen rose to be a successful investment manager, taking in billions of dollars in assets from both private investors and prominent figures in the political and sporting arena...
Sep 20, 2021 · Stanford, 71, is serving a 110-year prison sentence after his conviction for running a $7.2bn Ponzi scheme involving 18,000 investors that lasted two decades.
Oct 7, 2024 · It’s a decision fraud victims have to agonize over in the wake of a big financial scam: Large investors offer them cash in exchange for the rights to any future payment.
Jun 14, 2012 · Stanford's Ponzi scheme centred on his banking operation based in the Caribbean island nation of Antigua. Some 30,000 individual investors were swindled, it was alleged. Prosecutors failed to...
Feb 20, 2019 · In a civil complaint, the SEC accused Stanford and his associates of running a “massive, ongoing fraud” based on certificates of deposit issued by Stanford International Bank in Antigua and sold...
