Stanford Gets 110-Year Sentence for $7 Billion Fraud
This article is for subscribers only.
R. Allen Stanford was sentenced to 110 years in prison for leading a $7 billion international fraud on investors whom one prosecutor said the defendant treated like “road kill.”
U.S. District Judge David Hittner in Houston imposed the sentence yesterday, after saying Stanford had been found guilty of “one of the most egregious criminal frauds ever presented to a jury in federal court.” He ordered Stanford to forfeit $5.9 billion. Jurors in March convicted the Stanford Financial Group principal of 13 charges, including five counts of mail fraud and four of wire fraud.