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Fuddnik

(8,846 posts) Thu Jun 14, 2012, 01:24 PM Jun 2012

Allen Stanford sentenced to 110 years in prison.

Source: TPM

1:14 PM EDT, Thursday June 14, 2012
Allen Stanford Sentenced To 110 Years In Prison

KTRK in Houston reports:

Former billionaire R. Allen Stanford was sentenced to more than a century in prison today.

The courtroom was at capacity as the former tycoon who now claims to be a pauper learns he’ll spend 100 years in federal prison without parole. His attorneys had wanted a sentence of less than four years.

Read more: http://livewire.talkingpointsmemo.com/entries/allen-stanford-sentenced-to-110-years-in-prison

See ya when ya get out asshole!

17 replies

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Highlight:

Allen Stanford sentenced to 110 years in prison. (Original Post) Fuddnik Jun 2012 OP

I guess his convenient amnesia wasn't convenient enough. TheWraith Jun 2012 #1

My only wish is that more like him would be prosecuted and sentenced. nt nanabugg Jun 2012 #2

His lawyers wanted a sentence of less than four years. Fuddnik Jun 2012 #3

sorry to plead ignorance oldhippydude Jun 2012 #4

He stole a few billion dollars while holed up in Antigua, as Sir Allen Stanford. Fuddnik Jun 2012 #5

Here's one article... KansDem Jun 2012 #6

Tom Delay's backers must still be paying DeGuerin to keep Tom out of the slammer. freshwest Jun 2012 #13

Apparently a Ponzi scheme. 1monster Jun 2012 #9

I hope Adelson is taking a very careful look at this Woody Woodpecker Jun 2012 #7

I wish I could pick his cellmate. russspeakeasy Jun 2012 #8

Since he was facing a maximum of 230 years, cloudbase Jun 2012 #10

He must have been stealing from the Rich. bahrbearian Jun 2012 #11

Probably get down to 109 years on appeal. dipsydoodle Jun 2012 #12

But, there's a sentencing reduction provision jberryhill Jun 2012 #14

This is especially tasty given......... Swede Atlanta Jun 2012 #15

Let's outsource his prison time to a Mexican prison and save us some money. L0oniX Jun 2012 #16

Praise the Lord lsewpershad Jun 2012 #17

TheWraith

(24,331 posts)

1. I guess his convenient amnesia wasn't convenient enough.

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 01:25 PM

Jun 2012

Either that, or someone in court actually knew that amnesia does not work that way.

nanabugg

(2,198 posts)

2. My only wish is that more like him would be prosecuted and sentenced. nt

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 01:31 PM

Jun 2012

Fuddnik

(8,846 posts)

3. His lawyers wanted a sentence of less than four years.

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 01:33 PM

Jun 2012

Ain't it fun to be a billionaire, Allen?

oldhippydude

(2,514 posts)

4. sorry to plead ignorance

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 01:39 PM

Jun 2012

what did he do!!

Fuddnik

(8,846 posts)

5. He stole a few billion dollars while holed up in Antigua, as Sir Allen Stanford.

Reply to oldhippydude (Reply #4)

Thu Jun 14, 2012, 01:45 PM

Jun 2012

KansDem

(28,498 posts)

6. Here's one article...

Reply to oldhippydude (Reply #4)

Thu Jun 14, 2012, 01:46 PM

Jun 2012

How the Mighty Have Fallen: Ex-Billionaire Allen Stanford Gets Public Defender

The former billionaire financier Sir Allen Stanford has been given a court-appointed public defender to fight charges of orchestrating a $7bn (£4.2bn) fraud after a US judge ruled he had insufficient funds to pay for his own lawyer.

Stanford, best known in Britain as a sports impresario who bankrolled cricket’s Twenty20 tournaments, is in a Texas jail pending trial on charges of defrauding investors of billions of dollars of savings.

A prominent Texan lawyer, Dick DeGuerin, had been representing Stanford. But DeGuerin told a judge at a hearing in Houston that he wanted to withdraw, largely because there was no guarantee he would be paid.

Unshaven and wearing an orange prison jumpsuit in court, Stanford said he wanted to replace DeGuerin with Robert Luskin, a top Washington lawyer who defended President Bush’s adviser, Karl Rove, against accusations that he was involved in leaking the identity of a CIA spy.

But judge David Hittner asked whether Luskin might run into the same problem, as Stanford’s assets have been frozen by a liquidator. The judge asked him: “Do you have sufficient funds to retain an attorney to represent you?”

Stanford replied: “I don’t know the answer to that, your honour.”

The judge said he would take that as a “no” and appointed the federal public defender’s office in Houston to take on the case. “The man needs an attorney, he’s got an attorney,” said Hittner. “We’re going to get this case to trial.”

--more--
http://www.theinsanityreport.com/home/index.php/2009/09/16/news/how-the-mighty-have-fallen-ex-billionaire-allen-stanford-gets-public-defender/

I picked this article because of the closing paragraph--

Every time I think of Stanford, I remember the Daily Show episode where Jon Stewart exposed CNBC’s “hard nose journalism” with such riveting questions to Stanford (before he was arrested) as “How does it feel to be a billionaire?” Now THAT’s journalism.

Reporters were fawning all over this guy! They sounded like a 16 year-old cheerleader who had just been pinned by the captain of her high-school football team. Now, where's the gushing?

freshwest

(53,661 posts)

13. Tom Delay's backers must still be paying DeGuerin to keep Tom out of the slammer.

Reply to KansDem (Reply #6)

Thu Jun 14, 2012, 02:17 PM

Jun 2012

He was sentenced, but never remanded to the custody of the TDOC. He's still dancing on the grave of democracy.

1monster

(11,012 posts)

9. Apparently a Ponzi scheme.

Reply to oldhippydude (Reply #4)

Thu Jun 14, 2012, 01:59 PM

Jun 2012

Which reminds me of Lydia Cladek who will probably face a similar sentence after being found guilty in a $100,000 scheme. http://jacksonville.com/news/crime/2012-01-26/story/st-augustine-beachs-lydia-cladek-guilty-100-million-scheme

Funny thing, I was going through some old books and papers the other day and found a propectus from Cladek that a coworker gave me fifteen or so years ago maraveling over what a great percentage they were receiving on their investment with her.

I tossed it aside because I just didn't believe in it. Too bad my friend didn't do the same. Many of Cladek's victims kept reinvesting back in her scam...

Woody Woodpecker

(562 posts)

7. I hope Adelson is taking a very careful look at this

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 01:47 PM

Jun 2012

Hell, he could be a ponzi schemer and we don't know it.

russspeakeasy

(6,539 posts)

8. I wish I could pick his cellmate.

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 01:56 PM

Jun 2012

cloudbase

(5,524 posts)

10. Since he was facing a maximum of 230 years,

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 02:04 PM

Jun 2012

I'd say his attorney did a pretty good job. Next case!

bahrbearian

(13,466 posts)

11. He must have been stealing from the Rich.

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 02:04 PM

Jun 2012

dipsydoodle

(42,239 posts)

12. Probably get down to 109 years on appeal.

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 02:06 PM

Jun 2012

jberryhill

(62,444 posts)

14. But, there's a sentencing reduction provision

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 02:19 PM

Jun 2012

For every person he can inform on, he gets a 1 year reduction. Then, for each person they inform on, he gets a .75 year reduction. With each step in the process, it is another 3/4 of a year for each informant in his downline.

Swede Atlanta

(3,596 posts)

15. This is especially tasty given.........

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 02:34 PM

Jun 2012

there is a credible news story that he attempted to flee the country on a private air charter to Antigua/Barbuda. That didn't work out very well as the charter company required a wire transfer, no credit cards. He holds dual nationality, US and Antigua/Barbuda.

He knew he was guilty as sin when he tried to leave the country. I'm glad that failed and he is going to serve his time, likely dying in prison.

L0oniX

(31,493 posts)

16. Let's outsource his prison time to a Mexican prison and save us some money.

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 02:46 PM

Jun 2012

lsewpershad

(2,620 posts)

17. Praise the Lord

Reply to Fuddnik (Original post)

Thu Jun 14, 2012, 04:49 PM

Jun 2012

and his law of Karma

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