Texan banker Allen Stanford was sentenced today to 110 years in prison for organizing a Madoff scam that caused $7 billion in losses to clients.
Texan banker Allen Stanford was sentenced today to 110 years in prison for organizing a Madoff scam that I caused $7 billion in customer losses.
The sentence was handed down by District Judge David Hittner who decided not to fully accept the prosecution's requests: the Justice Department was seeking a sentence equal to 230 years in prison, 80 more than those inflicted on New York banker Bernie Madoff himself, responsible for a 17,3 billion dollar Ponzi scam.
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