Truthdig - Tag - Stanford Financial

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Tag: Stanford Financial

The Smoking Gun via Wikimedia Commons

Former Billionaire Sentenced for Huge Ponzi Scheme

R. Allen Stanford is perhaps not as well known as Bernie Madoff, but the two men have one thing in common—both received long sentences for their roles in separately orchestrating two of the largest Ponzi schemes ever.

Posted on Jun 14, 2012 READ MORE

AP photo / Lefteris Pitarakis

Stanford’s Billions Are MIA

The troubles of alleged rip-off artist Sir R. Allen Stanford are piling up in a big way: Not only does he stand accused of defrauding some 50,000 customers via his Stanford Financial enterprise, but now it seems that authorities are able to account for only $250 million of the $8.2 billion in assets that Stanford’s bank said it had.