Makes you wonder if we need someone to introduce proper laws here so scumbags like the Bridgecorp directors die in jail like Stanford will.
Allen Stanford, the Texan financier, has been sentenced to 110 years in prison for orchestrating a $7bn (ÂŁ4.6bn) Ponzi scheme.
District Judge David Hittner handed the sentence to the 62-year old in a Houston court on Thursday after hearing more than two hours of arguments from government prosecutors and lawyers for Stanford.
US authorities had sought a 230 year sentence for a man they described as “a ruthless predator responsible for one of the most egregious frauds in history.” Stanford used the hearing to argue that “Stanford was a real brick-and-mortar global financial empire,” that only crumbled after the government accused the company of being a Ponzi scheme in 2009.
The sentence leaves Stanford facing the rest of his life behind bars and caps a startling fall from grace for a man who was judged to be worth more than $2bn in 2008.