$7B swindle may keep Stanford behind bars for life

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Freepers last walk


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HOUSTON (AP) — Texas tycoon R. Allen Stanford spent more than 20 years charming investors, who handed him billions of dollars they had spent their lives accumulating through hard work and saving.

Stanford promised them safe investments that would help fulfill their dreams of being able to retire comfortably or pay their children's college tuition. All the while, he was pulling their money out of his Caribbean bank to pay for a string of failed businesses and a jet-setting lifestyle.

Stanford, once considered one of the wealthiest people in the U.S., with a financial empire that spanned the Americas, was convicted Tuesday on charges he bilked investors out of more than $7 billion.


Read more: http://www.mysanantonio.com/news/article/7B-swindle-may-keep-Stanford-behind-bars-for-life-3385934.php#ixzz1oWY9FyAI

[sonias]

1. Good

He should serve the rest of his life behind bars!