How to Pronounce Allen Stanford
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Mar 24, 1950 Mexia, Texas, United States 74 years old
Disgraced financier
AriesAllen Stanford - Place of Birth, Date of Birth, Age, Wiki, Facts, Net Worth, Birthday, Biography and Family
Allen Stanford, Date of Birth, Place of Birth, Family, Facts, Age, Net Worth, Biography and More in FamedBorn.com
About Allen Stanford
- Robert Allen Stanford (born March 24, 1950), known primarily by his middle name, is an American convicted financial fraudster and former financier who was the sponsor of professional sports.
- He is currently serving a 110-year federal prison sentence, having been convicted in 2012 of charges that his investment company was a massive Ponzi scheme and fraud.Stanford was the chairman of the now defunct Stanford Financial Group of Companies.
- A fifth-generation Texan who once resided in Saint Croix, U.S.
- Virgin Islands, he holds dual citizenship, being a citizen of Antigua and Barbuda and the United States.
- He contributed millions of dollars to politicians in both Antigua and the United States amongst other countries.In early 2009, Stanford became the subject of several fraud investigations, and on February 17, 2009, was charged by the U.S.
- Securities and Exchange Commission (SEC) with fraud and multiple violations of U.S.
- securities laws for alleged "massive ongoing fraud" involving $7 billion in certificates of deposits.
- The Federal Bureau of Investigation (FBI) raided Stanford's offices in Houston, Texas; Memphis, Tennessee; and Tupelo, Mississippi.
- On February 27, 2009, the SEC amended its complaint to describe the alleged fraud as a "massive Ponzi scheme".
- He "voluntarily surrendered" to authorities on June 18, 2009.
- On March 6, 2012, Stanford was convicted on all charges except a single count of wire fraud.
- He is serving his 110-year sentence at United States Penitentiary, Coleman in Coleman, Florida.
- In September 2014, Stanford appealed his conviction; however, the appeals court rejected the appeal in October 2015.
