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Ex-Stanford executive gets 5 years in $7B swindle

The star prosecution witness in the trial of convicted Texas financier R. Allen Stanford was sentenced Tuesday to five years in prison for helping to bilk investors out of more than $7 billion in one of the biggest Ponzi schemes in U.S. history.

Senh: That's it? Seven billion stolen, and he only got five years? Seems a bit lenient.

 

Stanford gets 110 years for role in $7B swindle

Allen Stanford

Former jet-setting Texas tycoon R. Allen Stanford, whose financial empire once spanned the Americas, was sentenced Thursday to 110 years in prison for bilking investors out of more than $7 billion over 20 years in one of the largest Ponzi schemes in U.S. history.

 

Investors: Stanford verdict won't restore $7B loss

Investors taken in by Texas tycoon R. Allen Stanford expressed relief and a sense of vindication after a federal jury convicted the jet-setting financier of swindling them out of more than $7 billion. But they said the verdict will never replace the loss of their life savings....

 

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