The Texas billionaire R. Allen Stanford has been sentenced to 110 years in prison for running a massive Ponzi scheme that defrauded victims of around $8 billion. Stanford was found guilty of using his Antigua-based bank to defraud investors by selling them phony certificates of deposit. It was the biggest known case of investment fraud since the Ponzi scheme run by New York financier Bernie Madoff. After the sentencing on Thursday, two of Stanford’s victims spoke out.
Angela Shaw: “He refuses to accept blame. I think, you know, in a lot of ways, he’s shown sociopathic behavior. I mean, his world is about Allen Stanford, and it’s not about all of these people who lost their savings. These were just numbers to him.”
Jaime Escalona: “I called Stanford. I told him, 'You deserve what you get. You are a dirty, rotten scoundrel.' And that’s what he is, exactly. No remorse at all for the lives of victims all over the world.”