110 Years

The Telegraph

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 (£4.6bn) 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.

  • rouppe

    Amusing though that the prosecutors asked for 230 years and the defence asked for 41 months! Judge must have gone half way, to be even handed…

  • Bawaugh

    I think Bridgecorp lost about half a billion or so. (Please correct me if I am wrong). 

    This is about 5% of 7 billion US dollars. 

    We need to get a bit of proportion here. 

    Besides at $70,000 a year for every year somebody is in jail is expensive. Besides locking up a sick prisoner is even more costly. 

    • Rodger T

      With the advent of private prisons here I don`t see why  prisoners should not be charged for their room and board and food ,in the interests of relieving the taxpayer burden, of course.

  • Gazzaw

    I don’t have a problem with the sentence for Petricevic& Roest, I have a problem with our parole laws knowing full well that these two pricks are smart enough to behave themselves well enough to be out in two. Six and a half years should mean six & a half years with time added for bad behaviour not deducted for good behaviour.
    .

    • REAPER CREW

      the other bit of luck with Petricevic & Roest is their arses are probably not top of the list for being given “Bitch” status

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