Allen Stanford Found Guilty of $7 Billion Ponzi Scheme
Former billionaire Allen Stanford was convicted Tuesday of running a $7 billion Ponzi scheme. He was found guilty on 13 counts of a 14-count criminal indictment, including fraud and conspiracy.
Stanford Fraud Trial Bigger ‘Black Eye’ for SEC, FINRA Than Madoff
The Allen Stanford trial began on Monday for his alleged $7 billion Ponzi scheme that involved supposedly ‘safe’ certificates of deposit.