Allen Stanford

  • Ex-Stanford exec gets 5 years for $7 bn swindle January 22, 2013

    Houston: A judge on Tuesday sentenced the star prosecution witness in the trial of convicted Texas financier R Allen Stanford to five years in prison for bilking investors of more than $7 billion in one of the biggest Ponzi schemes in US history. James M Davis, who was sentenced in...
  • Sammy saddened by Stanford sentence June 15, 2012

    Southampton: West Indies skipper Darren Sammy admitted on Friday he was saddened by the spectacular downfall of disgraced businessman Allen Stanford who ploughed millions of dollars into Caribbean cricket. Financier and cricket mogul Stanford was sentenced to 110 years in jail by a Houston court on Thursday for a $7 billion...
  • US tycoon gets 110 years in jail in swindle case June 15, 2012

    Houston: Former jet-setting Texas tycoon R Allen Stanford had plenty of things to say Thursday before a federal judge sentenced him to 110 years in prison for bilking investors out of more than $7 billion over two decades. An apology was not one of them. In a defiant, rambling statement that lasted...
  • Allen Stanford gets 110-year jail term June 15, 2012

    Chicago: Financier and cricket mogul Allen Stanford was sentenced to 110 years in jail for a $7 billion Ponzi scheme Thursday, closing the book on the flamboyant ex-tycoon's stunning fall from grace. The verdict will bring some satisfaction - but likely little financial relief - to 30,000 investors from more...
  • Texas tycoon convicted for the biggest fraud ever March 7, 2012

    New Delhi: Former cricketer and financier Allen Stanford was convicted on Tuesday for the biggest investment fraud ever. A whopping sum of $7 billion fraud investment landed Allen Stanford in the Texas court where he was declared found guilty on 13 counts of a 14-count criminal indictment. Having spend...
  • Stanford found guilty in Ponzi scheme March 6, 2012

    Houston: Financier and cricket mogul Allen Stanford was found guilty of perpetrating a $7 billion Ponzi scheme, a US jury declared on Tuesday. The mustachioed ex-tycoon had pleaded not guilty to bilking 30,000 investors from more than 100 countries through bogus investments with Stanford International Bank. Jurors found him guilty of 13...
  • Judge urges jury to rethink Stanford case March 6, 2012

    Houston: The judge in the fraud trial of wealthy cricket mogul Allen Stanford ordered the jury back to deliberations after they told him they could not reach a unanimous verdict. Stanford faces up to 20 years in prison if convicted of 14 counts of fraud, money laundering, conspiracy and obstruction. Prosecutors alleged...
  • 'Stanford's greed led to $7 bln Ponzi scheme' March 1, 2012

    Houston: Financier and cricket mogul Allen Stanford mocked his "gullible" investors as he built a $7 billion Ponzi scheme to fund a lavish lifestyle, US prosecutors said in closing arguments on Wednesday. "He regarded his depositors' money as his personal piggy bank," prosecutor William Stellmach told jurors in Houston, Texas, accusing...
  • Billionaire cricket promoter on sticky wicket June 19, 2009

    Boston: Allen Stanford, the once high-flying Texas billionaire with a Caribbean knighthood and a penchant for publicity and cricket, has been brought down to earth with a thud after surrendering to the FBI. The founder and chairman of Stanford Group once credited his grandfather with giving him "the inspiration to dream"...
  • US govt shuts Stanford's companies for $8 bn fraud February 18, 2009

    New York: The federal government says R. Allen Stanford's investment businesses were too good to be true, and shut his companies down on Tuesday. Two months after Bernard Madoff was accused of running the largest investment fraud in history, Securities and Exchange Commission officials raided the offices of Stanford, a...
  • T20 game that makes IPL bucks look like loose change June 13, 2008

    London: Some in the English press are calling it a bloodless coup but billionaire Allen Stanford probably has no time to read newspapers. He arrived at the home of cricket in regal style to announce cricket's latest stunner: on November 1 at his own ground in Antigua, an England eleven will...