Allen Stanford
Robert Allen Stanford (born March 24, 1950) is an American financial fraudster, former financier, and sponsor of professional sports. He is serving a 110-year federal prison sentence, having been convicted in 2012 of fraud, on charges that his investment company was the vehicle for a massive Ponzi scheme.
Allen Stanford | |
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 Stanford in 2009 | |
| Born | Robert Allen Stanford March 24, 1950 Mexia, Texas, U.S. |
| Nationality |
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| Citizenship | United States Antigua and Barbuda |
| Education | Eastern Hills High School Baylor University, BA, finance (1974) |
| Occupation | Former Chairman and CEO Stanford Financial Group (now defunct) |
| Known for | Businessman in the financial services sector, Ponzi scheme, involvement in Stanford Super Series |
| Spouse | Susan Stanford (separated) |
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, as a citizen of Antigua and Barbuda and of the United States. He contributed millions of dollars to politicians in 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 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 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 a 110-year sentence at United States Penitentiary, Coleman II in Coleman, Florida. In September 2014, Stanford filed an appeal; it was rejected in October 2015.
