Ponzi scheme gets110 years

[ZenGum]

A United States court has sentenced financier and cricket mogul Allen Stanford to 110 years in jail for operating a $US7 billion Ponzi scheme, closing the book on the flamboyant ex-tycoon's stunning fall from grace.

During his trial in Houston, Texas, prosecutors said Stanford repeatedly raided the bank he owned in Antigua, using it as his personal ATM to support a lavish lifestyle.

The verdict will bring some satisfaction - but probably little financial relief - to 30,000 investors from more than 100 countries who were bilked by bogus investments with Stanford International Bank.

Stanford, 62, denies his guilt and has spent the past three years in jail after being deemed a flight risk.

Investigators could not find 92 per cent of the $US8 billion the bank said it had in assets and cash reserves.

More at the link.

[xoxoxoBruce]

Cricket mogul! Execute the bastard.