Mar
07
2012
By ielr
Link:
R. Allen Stanford, the former billionaire financier, has been convicted of defrauding his investors of over $7 billion over 20 years, and now faces the prospect of up to 230 years in prison. Stanford, who was once worth $2 billion, has had his considerable personal assets seized by the court. A civil trial, in which prosecutors hope to seize his remaining assets in accounts in Switzerland, Britain, and Canada, also begins this week, but is not expected to last long.