Allen Stanford

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Robert Allen Stanford (born March 24, 1950) is an American-Antiguan convicted financial fraudster, former financier, and sponsor of professional sports. He was convicted of fraud in 2012 for operating a large 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 Texan who once resided in Saint Croix, U.S. Virgin Islands, he holds dual citizenship in Antigua and Barbuda and 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...

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