Thu June 14, 2012
Allen Stanford Sentenced to Over 100 Years
Texas financier Allen Stanford was sentenced to 110 years in prison today, reports Agence France Presse.
Stanford was recently convicted on several charges, including fraud, after prosecutors proved he was running a Ponzi scheme with his Stanford International Bank:
Stanford, 62, has spent the past three years in jail after being deemed a flight risk. He will likely never taste freedom again. US district judge David Hittner handed down the lengthy sentence at a hearing in Houston, Texas, a spokeswoman for the US attorney's office told AFP.
Badly beaten in a jailhouse brawl, Stanford was temporarily declared unfit for trial after he became addicted to painkillers while also on antidepressants.