Billionaire Allen Stanford Indicted, Charged with Fraud, Obstruction

The flamboyant financier, 'Sir' Allen Stanford has been charged with fraud, conspiracy and obstruction in a 21 count indictment handed down by the Department of Justice. He faces a maximum sentence of 250 years. Stanford surrendered to the FBI in Virginia last night and is expected to appear at a court hearing this afternoon. The indictment charges Stanford and his alleged co-conspirators with engaging in a scheme to defraud investors who purchased approximately $7 billion of CDs from the...Full Story
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