Scammer Allen Stanford 

Fraudster Allen Stanford 


Name: Allen Stanford
Other Name: Robert Allen Stanford
Born: 1950
whether Dead or Alive:
Age: 71
Country: United States
Occupation: Former Chairman and CEO Stanford Financial Group (now defunct)
Criminal / Fraud / Scam Charges: Securities fraud, investment advisor fraud, mail fraud, wire fraud, money laundering, false statements, perjury, making false filings with the SEC, theft from an employee benefit plan
Criminal / Fraud / Scam Penalty: 150 years in prison, forfeiture of US$17.179 billion, lifetime ban from securities industry
Known For: Businessman in the financial services sector, Ponzi scheme, involvement inStanford Super Series

Description :

Allen Stanford

Allen Stanford is an American fraudster placed next to Madoff for money laundering by a Ponzi scheme. Stanford established his Ponzi scheme very well in the deceit of Stanford financial services and Stanford banks. He build his castle in Antigua and Barbuda by being the biggest employer in that country. He was even knighted as 'Sir'.

The FBI got tip off of Stanford's scheme during the early months of 2009 after the Madoff's tragedy in 2008. FBI arrested Stanford in June 2009 and started his trial eventually. The trial ran for three years where at first Stanford denied his charges and later was found guilty for mail fraud, wire fraud, conspiracy, money laundering and obstruction of justice. Stanford have laundered about $7 billion and was sentenced to 110 years of imprisonment with $5.1 billion for restitution.

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