Allen Stanford gets 110 years in the big house

Allen Stanford sentenced to 110 years in prison


(Reuters) - Former billionaire Allen Stanford was sentenced to 110 years in prison on Thursday for running a $7 billion scheme in which he stole money from his investors to finance an extravagant lifestyle in the Caribbean.


Sir Allen & Me: An Insider's Look at R. Allen Stanford and the Island of Antigua

R. Allen Stanford guilty on 13 of 14 charges of money laundering and fraud

In Houston, a jury has found R. Allen Stanford, 61, guilty on 13 of 14 charges of money laundering and fraud. This was a Ponzi scheme that lost billions of dollars for investors worldwide.


The jury verdict came during the fourth full day of deliberations and after a month long trial.

Societe Generale gets a call from the Department of Justice

The Justice Department is investigating whether French bank Société Générale SA helped facilitate Texas financier R. Allen Stanford's $7 billion ponzi scheme and network.


Societe Generale SA is at $17.91, down 55% 2011 YTD.

Allen Stanford: The Other Ponzi Schemer

Yes, the other Ponzi scammer, Allen Stanford (see: The $8-billion Caribbean confidence game of Allen Stanford), is back in the news because now the authorities are going after others associated with the former Texas billionaire and former sponsor of the PGA Tour.


We here at Think Billion$ smell the irony of Allen "Stanford" in a different direction.


Here we have scammer Allen Stanford, who claims lineage to the Stanford family of Stanford University; who was a former sponsor of the PGA Tour which produced former billionaire Tiger Woods, a former Stanford golfer (but, not a graduate of Stanford University); who scammed Elin Nordegren who now has a new boyfriend.


This makes us think back to some of the lessons from The Lion King (1994):

Zazu: What's going on?
Mufasa: A pouncing lesson.
Zazu: Oh, very good. Pouncing. *Pouncing*? Oh, no, Sire, you can't be serious...
[Mufasa signs for "turn around"]
Zazu: This is so humiliating.

Article: Stanford Probe Widens

The Top 5 bad billionaires for the year 2009

Well, here we are at Think Billion$ at the end of 2009 and the end of the decade.

How do we close out the year with some sort of profound post? Well, once again we've been doing some thinking and serious research.

Last year The outcome of which is our First Annual "The Top 5 bad billionaires for the year 2008" list. How about that?

So here's the bad-boy list for this year, and let us know what you think:



Tiger Woods: while technically not a billionaire in net worth terms, everyone has been calling him that over the past couple of years because he has earned a billion from golf winnings and from personal endorsements. Why has Tiger been a bad billionaire for 2009? Come on, is this really a serious question???

Bernie Madoff: we found out about Bernie's badness in 2008, but was locked away in 2009.

Al Gore: we found out this year that Al is a "carbon Billionaire"

Allen Stanford: another convicted billionaire con.

Mark Cuban: for being Mark Cuban.

The $8-billion Caribbean confidence game of Allen Stanford

Book review of the former Texas billionaire and accused Ponzi schemer and scammer, Allen Stanford:


ST CROIX, USVI -- Texas billionaire and accused Ponzi scammer, Allen Stanford, is the focus of a new book written by a former Stanford executive. Sir Allen & Me: An Insider’s Look at R Allen Stanford and the Island of Antigua peers into the private and business life of the flamboyant financier, whom the federal government claims operated a “massive” $8-billion confidence game from his bank in the Caribbean nation of Antigua and Barbuda.


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Sir Allen & Me: An Insider's Look at R. Allen Stanford and the Island of Antigua