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R. Allen Stanford sentenced to 110 years in prison

The Texas tycoon who ran one of the largest Ponzi schemes in U.S. history still claims he is “not a thief”

Somewhere Charles Ponzi may have a smile on his face. Nearly 100 years after the Italian con man became infamous for his scheme to bilk investors by repaying them with the funds from later victims, U.S. District Judge David Hittner came down hard on Ponzi disciple R. Allen Stanford.

Stanford, the former billionaire who once reigned over a vast financial empire, was sentenced to 110 years in prison yesterday for running a Ponzi scheme that swindled investors out of more than $7 billion over 20 years.

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