Allen Stanford Guilty on 13 of 14 Counts
With the exception of Bernie Madoff, the Ponzi scheme and fraud case against R. Allen Stanford might have been the biggest case of its kind. Another crook is going down. Allen Stanford has been found guilty on 13 of the 14…
With the exception of Bernie Madoff, the Ponzi scheme and fraud case against R. Allen Stanford might have been the biggest case of its kind. Another crook is going down. Allen Stanford has been found guilty on 13 of the 14 counts in the case around his $7 billion Ponzi scheme. The sole ‘not guilty’ count was over wire fraud. The guilty counts are now in his fraud, conspiracy, obstruction of justice, and money laundering case.
The report from The Houston Chronicle shows that the total sentencing could carry up to 230 years in total sentencing, although Judge Hittner will make sentencing at a later date.
With as many investors who were burned by this man, many will be cheering for the 230 years.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
