Allen Stanford
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Robert Allen Stanford is an American-Antiguan convicted financial fraudster, former financier, and sponsor of professional sports. He was convicted of fraud in 2012 for operating a massive Ponzi schem
Stanford in 2009
Federal Detention Center, Houston, where Stanford was held
Ponzi scheme
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A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian con artist Charles Ponzi, this type of scheme mi
Allen Stanford
…convicted financial fraudster, former financier, and sponsor of professional sports. He was convicted of fraud in 2012 for operating a massive Ponzi scheme, and is serving a 110-year federal prison sentence. Stanford was the chairman of the now-defunct Stanford Financial Group of Companies. A fifth-generation…
Charles Ponzi, the namesake of the scheme, in 1920
Charles Ponzi