Romney's Ponzi partner sentenced to 110 years in jailSubmitted by MaxK on Fri, 06/15/2012 - 12:18
Allen Stanford Sentenced To 110 Years In Prison For $7 Billion Ponzi Scheme
"Prosecutors said Stanford, 62, used the money from investors who bought certificates of deposit, or CDs, from his bank on the Caribbean island nation of Antigua to fund a string of failed businesses, bribe regulators and pay for a lavish lifestyle that included yachts, a fleet of private jets and sponsorship of cricket tournaments. The one-time billionaire was convicted in March on 13 of 14 fraud-related counts in one of the largest Ponzi schemes in U.S. history."