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Stanford grew up in Mexia, Texas. His father, James Stanford (1927–2021), [14] was mayor of Mexia and a member of the Board of Directors of Stanford Financial Group. [15] His mother, Sammie (née Conn), is a nurse. [16] After his parents divorced in 1959, Stanford and his brother went to live with their mother.
- Who Is Allen Stanford?
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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...
Jun 14, 2012 · In 2006 his love of sport led to the development of his own cricket tournament, with a purpose-built ground in the West Indian island of Antigua. But the Stanford empire had lowly beginnings...
Mar 6, 2012 · Allen Stanford emerged suddenly into view in Britain as the brash Texan promising untold riches to cricket - and just as quickly vanished under a welter of financial accusations.
Sep 20, 2021 · 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 Madoff's fraud, the...
Jan 11, 2015 · Prosecutors say Stanford used his network of banks to bilk some 30,000 investors from 113 countries over the course of 20 years, making his Ponzi scheme one of the largest in history. Here, a ...
Mar 7, 2012 · Stanford had lived mostly in the Caribbean, in Antigua, where he fished on a fancy boat like Hemingway, whom he admired, and had a bank. He was also a philanthropist of cricket, especially...
