Convicted fraudster R. Allen Stanford, associates, and affiliated businesses have been found to owe an aggregate $9 billion in judgments, concluding a 16-year long Securities and Exchange Commission case concerning a $7 billion Ponzi scheme.
Robert Allen Stanford, who is serving 110 years in prison, was also ordered to pay a $5.9 billion civil penalty by Chief Judge David C. Godbey in the US District Court for the Northern District of Texas on Wednesday. Stanford was convicted in 2012 on multiple criminal counts of mail fraud and conspiracy related to defrauding about 18,000 people who invested in certificates of deposit ...
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